Nifty Weekly Analysis for 17-21 Nov

By | November 16, 2014

Last week we gave  Nifty Chopad level of 8355  Nifty we expected correction but market continued its upward journey and moved up 50 points not a major move. Lets analyze how to trade nifty next week.

 Nifty Hourly Chart

nifty hourly
Nifty Hourly charts has meet its trendline resistance @ 8411 unable to cross and break of 21 HEMA @8303 will see a quick fall till 8280 levels , Breaking the same can see deeper cut else bounceback again on cards till 8465/8500 levels.

 

Nifty Daily Chart

nifty daily

Nifty daily chart is also has formed a series of DOJI’s and double top pattern @ 8411 also trendline resistance as per above chart with negative divergence visible in daily indicators. 8365 will play an important resistance strong support @ 8200.

 Nifty Harmonic

Nifty Harmonic

Nifty as per harmonic pattern seems to have covered maximum move of this current rise, We see maximum rise of 650 in upmove we have done 700 +points in 19 trading session so upmove will come to an end, Also as show in above chart Nifty has reached the top end of grey box upside and bias has turned neutral with a grey bar  we can see decline of 200/300 points in nifty by 27 November. Do not use this to buy Puts blindly.

Nifty Daily Elliot Wave Chart

NIFTY - Daily EW

Daily chart are is showing 4 wave completed @7723 and V wave has started target comes @ 8660, correction will be part of the rise so use dips till 8000/8169 to enter.

Nifty Gann Date

As per time analysis 19 November  is Gann Turn date , except a impulsive around this date.  Last week we gave 11 November  is Gann Turn date but Nifty did not show expected move.

 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
  • 7598-7568
  • 7625-7654
  • 7780-7856
  • 7927-7974
  • 8027-8052
  • 8169-8198

Fibonacci technique

Fibonacci fan

nifty ff

8120/8044 should be watched closely when we see pullback in NIfty

 

Nifty Weekly Chart

nifty weekly

It was positive week,  with the Nifty up by 52 points  closing @8390 forming a DOJI candlestick pattern on Weekly charts. Next week will be very crucial and can start a short term correction. As per Harmonic Weekly chart nifty has reached the grey box upper end on weekly chart also so time to be cautious as we can see sideways/bearish  move with a negative bias in coming 2 weeks.

Nifty Weekly Timeline 

 

Trading Monthly charts

nifty monthly

Bulls need to protect the recent low of 7723 for rest of days for bullish moves to continue.

 Nifty Weekly Chopad Levels

 

Nifty Trend Deciding Level:8416

Nifty Resistance:8465,8500,8550

Nifty Support:8367,8286,8237

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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4 thoughts on “Nifty Weekly Analysis for 17-21 Nov

  1. vijay

    pls. Answer, Trend Deciding level and Trend Changer level prices of nifty future, are included with premium + nifty spot price, or only SPOT price. (spot+premium) or (spot only)

  2. Chanchal Kumar Chakraborty

    Sir,
    Your analysis is unparallel. Even a novice like me can operate.

  3. anandchetas

    Bramesh Sir,

    Thankyou for the detailed analysis.

    TDL @ 8416 and R1 also 8416 is this correct. please clarify

    Thank you

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