Monday, 5 September 2016

{LONGTERMINVESTORS} Bank Nifty forms Bullish Engulfing pattern,Weekly Forecast

Last Week we gave Chopad Level 19275  Bank Nifty gave Short entry on Monday  which got stopped out on Tueday on gap up and traders who revered posiiton as per Chopad levels were rewarded handsomely , as it did all 3 target by Wednesday.  Lets analyze how to trade in coming week.

Bank Nifty Hourly

Bank Nifty Hourly

As discussed in last analysis Close above 19500 can move towards 19766/20000.

High made was 19911 so Bulls were  to break 19500, Now Bulls need a close above 20000 for further move towards 19300/19500 which is double target of breakout zone.


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Rgds,

bramesh

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