Last Week we gave Chopad Level 25555 Bank Nifty gave Short Entry as per Chopad Level on Monday as High made was 25588 rewarded Chopad Followers as it did 1 Targets on downside so average week for Chopad followers. Top made for the week was exactly on Time Cycle Turn date of 01 Jan .Lets see How to trade Nifty in coming week as we approach new Life high and also important time cycle date of 11 Jan.
Bank Nifty Harmonic Pattern
We are forming a bullish ABCD pattern with PRZ zone coming around 26779, Bulls need to continue holding 25555 for a move towards for 25780/25920/26300/26779.
Supply and Demand Analysis
Self Explanatory chart..
As per gann angle Break of 25600 for a move towards higher end of gann angle at 25920/26500.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 08/11 Jan is Turn date , impulsive move can be seen around these dates.
Bank Nifty Weekly
It was positive week, with the Bank Nifty up by 109 points closing @62. As discussed in last analysis Coming week 01/03 Jan is important time cycle turn date. Bulls need a close above 25555 for a breakout for a move towards 25780/25920. Bearish below 25400 for a move towards 25250/25000.
25400 was broken and bears did 25250, High made of last week was 25643 so 25555 was broken on weekly closing basis bullish sign. Coming week 11 Jan is important time cycle turn date. Bulls need to hold 25510 level for a breakout to sustain for a move towards 25800/25920/26100. Bearish below 25250 for a move towards 25000/24750.
Bank Nifty Monthly
Bank Nifty Bulls held to 25000 on Monthly and Yearly closing basis. 25000 will play crucial role in Jan month.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:25650
Bank Nifty Resistance:25752,25920,26100
Bank Nifty Support:25510,25250,25000
Levels mentioned are Bank Nifty Spot
Let me go by Disclaimer these are my personal views and trade taken on these observation should be traded with strict Sl.Please also read the detailed Disclaimer mentioned in the Right side of Blog.
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