Bank Nifty Weekly View 5th-9th June

Last week was consolidation week for Bank nifty, short position was initiated below 23200 which made low of 23093 neither stoploss came nor target was hit, for next week rage of 23300-23463 will watched closely before next trending move

 

As per above price vibration chart close above 23463 can take bank nifty towards 23800 / 24200, bears will get chance only on close below 23100 for move towards 22750 / 22500

 

New time cycle has been started from 30th may, below i have also marked the past moves of this short term time cycle

 

7th june is Gann date for Bank Nifty, we can expect some volatility or we can see short term top or bottom over around this date

 

Bank Nifty Trend Changing Level 23463

 

Bank Nifty Weekly Trading Levels

Buy Above 23520

Target – 23670 / 23770 / 24120

Sell Below 23200

Target – 23050 / 22850 / 22500

 

 

. Kindly note above mention levels are for 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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