Nifty Weekly Analysis for July Expiry Week

By | July 27, 2014

Last Week we gave Chopad level of 7685, Nifty did  2 target on upside rewarding trend follower with 150 points. Lets analyze how to trade Nifty in Expiry week.

 Nifty Hourly Chart

nifty hourly

Hourly charts shows have been trading in a channel, now currently trading at the channel bottom which is around 7752, any break below it the current uptrend can come to an end, we might see short term reversal

Nifty Elliot Wave Analysis

Nifty Hourly EW

Keep a close eye of 34 Hour EMA, last time Nifty close below it we got 150 points in 2 days, so any close below 34 EMA will spell trouble for bulls.

Nifty Daily Chart

nifty daily

Nifty is near the gann Circle resistance as shown in above chart closing above the same 7908  becomes the short term target  target.Closing below the circle short term target comes around 7550.

Nifty Daily Elliot Wave Chart

NIFTY - Daily EW

Daily chart are still trading in 3 Wave and dips till 7422 needs to be bought into.

Nifty Gann Date

Gann Dates

29 July +/1 days is gann turn date and explosive move is round the corner. Last week we gave date of 21 July  +-1  date and we saw explosive upmove on 22 July.

 Nifty Gaps

For Nifty traders who follow gap trading there are 7 trade gaps in the range of  7000-7800

  • 7067-7014
  • 7130-7121
  • 7276-7293
  • 7229-7239
  • 7454-7459
  • 7526-7532
  • 7664-7674
  • 7684-7704

Fibonacci technique

Fibonacci fan

nifty ff

NIfty took exact support at Gann fan and bounced back towards a new high.

Nifty Fibo Retracement

nifty fibo

7557  which are 23.6  retracement should be watched closely in coming week.

Nifty Weekly Chart

Nifty Weekly Andrew Pitchfork

It was positive week, with the Nifty up by 126   points  closing @7790. Now Nifty is its Andrew Pitchfork median line and unable to cross the same pullback can start, Also nifty will be entering a new quadrant from next week as per time analysis and need to be extreme cautious on longs now as huge negative divergence are visible in Weekly charts.

Nifty Weekly Timeline 

 

Trading Monthly charts

nifty monthly

We are approaching the month end on 31 July and expiry is also on same day.Bulls will have to save 7629 for momentum to build in August Month.

 Nifty Weekly Chopad Levels

 

Nifty Trend Deciding Level:7765

Nifty Resistance:7862,7935,8000

Nifty Support:7695,7601, 7529

 

Levels mentioned are Nifty Spot

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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8 thoughts on “Nifty Weekly Analysis for July Expiry Week

  1. saran

    bramesh bai,u told with 30 points sl buy & sell ur weekly levels used, thanks pls say how much points with sl for bank nifty and can u say why u do not post weekly bank nifty levels.

  2. senthik

    Would appreciate what does The meaning of The dates in the Red column Is Explained

  3. Vikas Patil

    29 July +/1 days is gann turn date and explosive move is round the corner. Last week we gave date of 21 July +-1 date and we saw explosive upmove on 22 July

    Sir this move on upside or down side ?????

  4. Bramesh Post author

    Thanks !!

    Its corrected.

    Rgds,
    Bramesh

  5. Bramesh Post author

    Hi,

    Buy above Chopad with 30 points SL and Book profit near support/resistance levels.

    Rgds,
    Bramesh

  6. saran

    bramesh bai,i ask above the same question, pls can u explain ?

  7. Abhay Dubey

    For Nifty traders who follow gap trading there are 7 trade gaps in the range of 5300-6400. I think the range mentioned here is incorrect. great analysis, as always.

    Thanks,
    Abhay

  8. Nimesh

    Thanks for such a nice presentation on a consistence basis.
    Just want to know that how the Chopad levels are used for trading? Buy if price above Chopad level & sell below it? please explain

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