Last Week we gave Chopad level of 27225 Bank Nifty gave short entry and did all 3 target on downside and we also seen the effect of time cycle confluence date market was in free fall, so excellent week for chopad followers. Lets see how we trade nifty in coming week as we approach important time cycle date of 25 Sep.
Bank Nifty Harmonic Pattern
No Valid Harmonic Pattern Formed
Supply and Demand Analysis
Self Explanatory chart.. Bears have firm control as bank nifty trading below green line.
Planetary Cycles and Bank Nifty Movements
All Bearish target done, Now below 25496 bears have upper hand towards 25225/25000/24700. Bullish above 25700 for a move back to 25888/26060/26200
Gann Angles
Reacted perfectly from gann angle Resistance below 25000 heading towards 24500-24000
Bank Nifty Gann Dates
Bank Nifty As per time analysis 25 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 1566 points closing @25596. As discussed in last Analysis Now Bulls need to conquer 27225 for up move to continue towards 27500/27640. Bearish below 27072 for a move back to 26896/26784/ 26640.Time Cycle date of 20 Sep is very important.
High made was 27000 so bears had upper hand from the start of the week and we had the big fall after time cycle date of 21 Sep, Now Bears need a close below 25500 for a move back to 25225/25000/24800. Bullish above 25700 for a move back to 25888/26060/26200. 25 Sep is important time cycle date.
Bank Nifty Monthly
As we are approaching monthly closing in coming week bulls need to close above 26100 else bears will have upper hand in October month which is traditionally a Bear month.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:25520
Bank Nifty Resistance:25710,25888,26064
Bank Nifty Suport:25400,25225,25001
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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Support and Resistance levels are mentioned opposite.
thanks its corrected…
Will sell 25000 PE …. my view expiry will be up. Good correction happened in banking sectors in last 2 weeks.
Sounds like a plan !!