Bank Nifty Weekly Forecast Amid Karnataka Political Turmoil

Last Week we gave Chopad level of 26450 Bank Nifty gave long  entry and gave 2 Target on  upside and Short taken on 16 May did 3 target on downside  so an excellent week for chopad followers. Lets see how we trade nifty in coming week,as we have Karnataka Political uncertainty over   and Important Astrological date on 22 May.

 

 

 

Bank Nifty Harmonic Pattern

As discussed in last analysis 26287 done now bulls need to hold 26250 for upmove towards 26778

26778 done.Now till we are below 26000 bears can target 25420/25250.

Supply and Demand Analysis

 

Self Explanatory chart..

Gann Angles

As discussed in last analysis 26287 done and now bank nifty need to hold 26250 for upmove towards 26778

26778 done. Break of 25850 can see fast fall towards 25500/25250.

Bank Nifty Gann Dates

Bank Nifty As per time analysis 22/25 May  is Pressure date , impulsive move can be seen around these dates.

Bank Nifty Weekly

It was negative week, with the Bank Nifty down by 537 points  closing @25875. As discussed in last analysis Now bulls need to hold 26250 for upmove towards 26778/28000/28250. Bearish below 26250 for a move towards 26000/25750.

High made was 26972 so bulls did 2 target on upside and below 26250 did 26000. Now for coming week break of 25800 can see fat fall towards 25500/25250/25000. Bullish above 25920 for a move back to 26210/26364

Bank Nifty Monthly

As discussed in last analysis Bulls need to hold 25607 for the move to continue towards 26000/26278/26666/27000.

 Bank Nifty Weekly Chopad Levels

Bank Nifty Trend Deciding Level:25800

Bank Nifty Resistance :25920,26064,26300

Bank Nifty Support :25650,25420,25250

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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