Bank Nifty Weekly Analysis before crucial Inflation Data

Last week we gave the Chopad level of 18816  Bank Nifty opened with gap down and show a swift recovery from the lows and gave a long entry to Chopad followers  which got stopped out and gave short entry on Tuesday and did 2 target on downside. Lets analyze how to trade market in coming week as we will get to know if Greek will get Bailout from its creditors before market opens on Monday. As of now Eurogroup Meeting Ends Without Agreement. We also have CPI inflation data coming in Evening 5:30 PM and WPI on Tuesday 12:30 PM

Bank Nifty Hourly

Bank Nifty need to cross the zone of resistance @18767-800 for a breakout to happen. Unable to cross the same can see down move till 18600 odd levels as shown in above chart.

Bank Nifty Hourly  EW

Continue Reading