Nifty Weekly Analysis for week 19-23 Nov

By | November 17, 2013

Nifty Hourly Chart

 nifty hourly

Nifty once it will move above its 50 HSMA,will be good for bulls in short term.

Nifty Daily Chart

nifty daily

Nifty Daily chart took support at 50 DMA and bounced back last time also Nifty bounced from 50 SMA and moved till life highs, so will this time see another life highs.

 

 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
  • 6185-6187
  • 5989-6035

Fibonacci technique

Fibonacci fan

nifty ffNifty Fibonacci fan are wonderful tool to find the top and bottom in short term.Nifty at resistance of Fibo Fan and support comes at 6000 as said last week and Nifty made low of 5989 before boucing back, So Fibo fan were again able to capture short term bottom.

Fibonacci Retracement

nifty fibo80% retracement 5700-6342 comes at 6200 which would be be the zone of fight between bulls and bears.

 

Nifty Weekly Chart

nifty weekly

It was second bearish week, with the Nifty was down by 84 and losing 1.4%.Nifty was again unable to close above the supply zone of 6338 on weekly basis and price got rejected again at higher levels. Its a repeat of Nov 2010 when Nifty started much awaited correction from Mahurat trading session.
 Now any close above 6170 on weekly basis will again rise hope for Nifty going near 6350 odd levels.

Trading Monthly charts

nifty monthly

Nifty monthly chart corrected from its Supply zone of 6337-6342 and gave corrective down move and completed the down move and is heading towards 6200 in short term.

 Nifty Trading Levels

Nifty Trend Deciding Level:6108

Nifty Resistance:6170,6226 and 6300

Nifty Support:6077 ,5989 and 5950

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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