Last Week we gave Chopad level of 25170 Bank Nifty gave Long entry and did 1 target on Upside and Short triggered all 3 target on Downside also seen the effect of important time cycle date of 03 Oct market was in free fall, so excellent week for chopad followers. Lets see how we trade bank nifty in coming week as we approach important time cycle date of 09 Oct.
Bank Nifty Harmonic Pattern
No Valid Harmonic Pattern Formed
Supply and Demand Analysis
Self Explanatory chart. Range of 23500-23600 is important level to hold on weekly chart as sown by green color in above chart.
Planetary Cycles and Bank Nifty Movements
As discussed in last Analysis24800 done,Now Bears need a close above 25170 for a move back to 25300/25497/25700. Bearish below 24920 for a move back to 24784/24666/24500.
25300 done on upside and once 24920 broken did 24500. Bulls need to protect 24100 for the fall to stop, else we can see fall towards 23500/23333/23000. Bullish above 24500 for a move back to 24800/25050. 09 Oct Important trend change date.
Gann Angles
Heading towards 24000/23500 support zone as per above gann chart .
Bank Nifty Gann Dates
Bank Nifty As per time analysis 09/11 Oct is Pressure date , impulsive move can be seen around these dates.
Bank Nifty Weekly
It was negative week, with the Bank Nifty down by 477 points closing @25120. As discussed in last Analysis Now Bears need a close above 25170 for a move back to 25300/25497/25700. Bearish below 24920 for a move back to 24784/24666/24500. 03 Oct is important time cycle date.
25300 done on upside and once 24920 broken did 24500. Bulls need to protect 24100 for the fall to stop, else we can see fall towards 23500/23333/23000. Bullish above 24500 for a move back to 24800/25050. 09 Oct Important trend change date.
Bank Nifty Monthly
As discussed in last Analysis We had a bad monthly closing and for October month Bulls need to protect 24920 for the upmove towards 25525/25784. Bearish below 24900 for a move towards 24500/24100
24250 done, If we close below 24100 we can see fall towards 23500-23300. Bullish on close above 24500 for a move back to 24800/25050.
Bank Nifty Weekly Chopad Levels
Bank Nifty Trend Deciding Level:24250
Bank Nifty Resistance:24480,24624,24800
Bank Nifty Support:24048,23800,23616
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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