Nifty Weekly Chart Analysis

By | October 12, 2014

Last week we gave  Nifty Chopad level of 7966 and Nifty did 2 target of downside rewarding chopad followers by 151 points. Nifty witnessed a volatile week due to wild swings seen in global markets.Next week 7784 needs to be closely watched any close below it can see a sharp decline to 7655. Lets see how to trade market next week. 15 October  is again a trading holiday.

 Nifty Hourly Chart

nifty hourly
Nifty Hourly charts 21/34 EMA have gone flat, trendline support exists @ 7784/7800  range, Bulls will get active above 7972 for initial target of 8100 and 8175.Bears will get active below 7784 for target of 7725/7655.

 

Nifty Hourly Elliot Wave Chart

Nifty Hourly EW

Hourly EW is showing correction can be seen till 7794 range and bounceback to 7940 range.

Nifty Price Channel

NIfty Price Channel

As per Price Channel concept Nifty is entering in zone of demand as seen in above chart holding the same upmove can be seen towards the highs of channel.

Nifty Daily Chart

Nifty Trendline

Nifty daily chart is shown with both short and medium term trendline, next week is very crucial as any break of trendline can put a break to current bull run.


 Nifty Harmonic

Nifty Daily Bias

Nifty daily chart bias is still in neutral zone so expect some range bound volatile move in nifty in coming week.

Nifty Daily Elliot Wave Chart

NIFTY - Daily EW

Daily chart are is showing 4 wave is still on completion around 7784/7655 and bounceback can be seen as part of 5 wave  till 8150/8200 in next 2 week.

Nifty Gann Date

As per time analysis 15 October is Gann Turn date , except a impulsive around this date. Now as 15 is Holiday so 13 or 16 we will see the expected move.  Last week we gave 07 Oct and nifty gave good correction on that day

 Nifty Gaps

Drive Wealth

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
  • 7598-7568
  • 7625-7654
  • 7924-7960

Fibonacci technique

Fibonacci fan

nifty ff

7841-7850  needs to be closely watched as per gann fan support.Resistance @ 8130.

 

 

Nifty Fibonacci Retracement

nifty fibo

7784 which is 61.8 Fibo retracement levels needs to be watched closely in coming week.Holding the same we can see a good bounce till 7960 levels.

Nifty Weekly Chart

nifty weekly

It was negative week, with the Nifty down by 85 points  closing @7859 . As per Harmonic Bias as seen in above chart, first time after 6000 and 31 week we are seeing trend change from Bullish to Neutral, so expect choppy/sideways move till the Harmonic Bias turn back to Bullish zone ie, Weekly candle turns back to green.Nifty is back again to AF support zone where it bounce back last time, need to see if we can bounceback this time also. New Time cycle will start from next week.

Nifty Weekly Timeline 

 

Trading Monthly charts

nifty monthly

Bulls saved 7950 on Monthly levels, also forming a spinning top pattern, Now as seen in above chart this month we can see a good upmove going by Historical pattern of this bull run.

 Nifty Weekly Chopad Levels

 

Nifty Trend Deciding Level:7883

Nifty Resistance:7949,8026,8110

Nifty Support:7794,7726,7655


 

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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7 thoughts on “Nifty Weekly Chart Analysis

  1. saravanan

    sir,i think nifty positional learn course,can u tell me the fee?

  2. Bramesh Post author

    As per gann concept 13 looks for favorable for rise instead of 14 and you saw today we made range of 105 points in nifty.

    thats why we gave more preference on 13 instead of 14.

    Rgds,
    Bramesh

  3. RPModi

    You mentioned that as per time analysis 15 October is Gann Turn date , except a impulsive around this date. Now as 15 is Holiday so 13 or 16 we will see the expected move.

    Why not 14 instead of 13 as 15th is Holiday and 14 is nearer to 15?

  4. pradip

    u r analysis is superb i am positional trader means i cant trade intra r week for profit i can rollover my position but tell me for my nature how i can enter r exit …which stragey i can follow …many times i can enter wrongly but for profit i can rollover my position but 3 months i can acquire loss but small profit taken and exit then when i can exit if i can wait may be tremndious profit ..for increasing my profit can u tell me which is my mistake aur muze kya change karna chahia

  5. Rajan

    The analysis is seeing through Crystal ball … Crystal clear

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