Last Week we gave Chopad level of 27666 Bank Nifty gave 2 whipsaw before doing 1 target on upside and 2 on downside so average week for chopad followers. Lets see how we trade nifty in coming week.
Bank Nifty Harmonic Pattern
As discussed in last analysis 27412 done now waiting for extended target of 27748.
27748 done now waiting for 28046.
Supply and Demand Analysis
Self Explanatory chart..
Planetary Cycles and Bank Nifty Movements
As discussed in last analysis Bulls need to close above 27661 for a move towards 27800/27920/28070. Bearish below 27460 for a move back to 27350/27000.
27873 done and 27350 done so we had a volatile week,Bulls need close above 27734 for a move towards 27900/28068/28225. Bearish below 27485 for a move back to 27225/27064.
Gann Angles
As discussed in last analysis we are closing till above 27500 we can rally towards 28000/28300.
27500 held again, waiting for 28000/28300.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 06/10 Aug is Pressure date , impulsive move can be seen around these dates.
Bank Nifty Weekly
It was positive week, with the Bank Nifty up by 61 points closing @27695 .As discussed in last analysis Bulls need to close above 27661 for a move towards 27800/27920/28070. Bearish below 27460 for a move back to 27350/27000.
27873 done and 27350 done so we had a volatile week,Coming week is very crucial as per time analysis Bulls need close above 27734 for a move towards 27900/28068/28225. Bearish below 27485 for a move back to 27225/27064.
Bank Nifty Monthly
Bulls need to close above 27600 for momentum to continue in their favor for August series, else bears will push index back to 27000 below 27500.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:27734
Bank Nifty Resistance :27901,28068,28224
Bank Nifty Support :27568,27402,27236
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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