Nifty Market Analysis for 15-19 Oct

By | October 13, 2013

Last week we gave Trend Deciding level as 5946 Nifty  Nifty achieved 2 weekly target on upside and 1 weekly target on downside so traders were able to capture both upside and downside move :).

IIP data was a big shocker August #IIP growth at 0.6% vs 2.6% in July  and No Deal on US Debt ceiling  are big negative events devloped on Weekend, Inflation data will be coming on Monday and will lead to volatility in Stock market. Reliance Results will be declared on Monday after market close.

Next Week we are having Holiday on 16 October

Lets analyze how to trade Nifty next week.

Nifty Hourly Chart

nifty hourly

Nifty Hourly charts is still trading above trendline crossover and support exits at 6020-6010 range.Breaking below it Nifty can break all the way through the 5850 odd levels.

 Nifty Gaps

For Nifty traders who follow gap trading there are 5 trade gaps in the range of  5300-6000 and all other gaps got filled.

  • 5285-5303
  • 5448-5553
  • 5680-5700
  • 5780-5802
  • 6046-6021

Nifty Daily Chart Time Analysis

Nifty Daily chart has formed Hammer candlestick pattern which has formed in uptrend, If tommrow Nifty opens with gap down and unable to fill the gap for next 2 days we have formed a short term top.

nifty daily

Fibonacci technique

As per of Fibo Retracement theory Nifty will now take support at 5924.

Fibonacci fan

nifty ff

Nifty Fibonacci fan are wonderful tool to find the top and bottom in short term.Nifty was unable to close above the Fibo Fans at 6107.Unable to cross 6107 Nifty can fall all the way upto 5825 odd levels.

Nifty Weekly Chart

It was bullish week, with the Nifty was up by 189  and gaining  3.2% .We have drawn the Fibo arcs on Weekly chart.Fibo arcs were able to find the support at 5118 as shown in below chart and currently, Nifty is facing resistance at the top of  fibo arcs as shown in below chart which can be bearish in short term.
Nifty Fibo Arcs

Trading Monthly charts

nifty monthly

Looking at monthly chart I am expecting October to be a choppy month confusing market participants looking at previous price patterns.

 Nifty Trading Levels

Nifty Trend Deciding Level:6010

Nifty Resistance:6077,6142 and 6207

Nifty Support:5946,5898 and 5825

Levels mentioned are Nifty Spot

Stock Performance Intraday sheet for Sep Month is updated on http://tradingsystemperformance.blogspot.com/

Stock Performance Positional sheet for Sep Month is updated on http://positionalcallsperformance.blogspot.com/

Let me go by Disclaimer these are my personal views and trade taken on these observation should be traded with strict Sl

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9 thoughts on “Nifty Market Analysis for 15-19 Oct

  1. Bramesh Post author

    Dear Biju,

    Its covered in my trading course.

    Rgds,
    Bramesh

  2. biju

    what is the nifty gaps..how to look and study the level..i didn’t get the basic of it ?if yu can put some light on it

  3. Bramesh Post author

    Dear Dinesh,

    Levels are perfectly alright. See them keeping in perceptive of Weekly Trend Deciding level.

    Rgds,
    Bramesh

  4. dinesh

    Dear Bramesh,

    It appears that there is some incorrectness in the resistance levels. How can 6077 be resistance while the close is at 6096. Please correct levels. Thanks

  5. Bramesh Post author

    Yeah most likely if tomorrow gap down happens.

    Rgds,
    Bramesh

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