Last Week we gave Chopad level of 27920 Bank Nifty gave long entry on upside on Monday rewarded traders handsomely,did all 3 target on Upside so excellent week for chopad followers. Lets see how we trade bank nifty in coming week.
Bank Nifty Harmonic Pattern
As discussed in last Analysis ABCD Pattern can resume the last leg rally once we close abvoe 28000 for the completion of pattern till 28430.
Waiting for target of 28494.
Supply and Demand Analysis
Self Explanatory chart..
Planetary Cycles and Bank Nifty Movements
As discussed in last Analysis Bulls need a close above 27940 for a move back to 28068/ 28225/28400. Bearish below 27784 for a move back to 27656/27450/27225.
High made 28388 so bulls were able to achieve the target. Now bulls need a close above 28125 for a move back to 28368/28520. Bearish below 28000 for a move back to 27920/27784/27656.
Gann Angles
As discussed in last Analysis Bulls got whipsawed now need to a close above 27920 for the up move to resume.Fresh shorts below 27739 only for a fast move towards 27656/27400.
.Fresh shorts below 28000 only for a fast move towards 27920/27784/27656/27400. Bullsih above 28125 for a move towards 28225/28370/28500.
Bank Nifty Gann Dates
Bank Nifty As per time analysis 03 Sep is Pressure date , impulsive move can be seen around these dates.
Bank Nifty Weekly
It was negative week, with the Bank Nifty down by 293 points closing @27834 .As discussed in last Analysis Now bulls need a close above 27940 for a move back to 28068/ 28225/28400. Bearish below 27784 for a move back to 27656/27450/27225.Important time cycle date for coming week is on 29 Aug
High made 28388 so bulls were able to achieve the target. Now bulls need a close above 28125 for a move back to 28368/28520. Bearish below 28000 for a move back to 27920/27784/27656.
Bank Nifty Monthly
As discussed in last Analysis Now till we are below 28000 bears can push index towards 27570/27250. Bullish above 28068 for a move back to 28225/28400.
Bank Nifty bulls are holding 28000 but unable to do weekly close above 28068 so tight fight going on. Bears below 28000 bears can push index towards 27570/27250. Bullish above 28068 for a move back to 28225/28400.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:28131
Bank Nifty Resistance :28225,28436,28578
Bank Nifty Support :27920,27784,27656
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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Sir will you explain what is gann dates and how each date will give what kind of results
You mostly see trend reversal around these dates..
There seems to be some typo in Chopad support 3rd level – should be 27656 right?
Also the first resistance of 28225 is it too close to the trend change level. Could you confirm?
Thanks Its corrected !!
Yes thats correct