Bank Nifty Weekly View 2nd – 5th May

Last week Bank Nifty gave long entry above 21700 on monday & did all 3 targets as per weekly trading levels, For next week we can see some correction as per time cycle & as per gann analysis range of 22200 – 22350 will play important role next week

 

As per short term elliott wave analysis Bank Nifty has completed it 3rd wave & now correction can be seen ahead

 

Bank Nifty will going to be enter into new short term time cycle from 2nd may , below i have marked the past moves of this short term time cycle

 

3rd May is Gann date for Bank Nifty , we can expect some volatility or we can see short term top or bottom over there

 

Bank Nifty Trend Changing Level 22250

 

Bank Nifty Weekly Trading Levels

Buy Above 22510

Target – 22650 / 22800 / 23100

Sell Below 22200

Target – 22050 / 21900 / 21600

 

 

. Kindly note above mention levels are for Bank Nifty cash 

. Always trade with stoploss & book partial profit as 1st target reach or trail stoploss

 

Note: These are my personal trading views , before taking trade kindly consult your trading adviser & kindly see disclaimer 

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