Nifty Weekly Analysis for 08-12 Dec

By | December 6, 2014

Last week we gave  Nifty Chopad level of 8620 Nifty made high of 8627 and came down till 8504 did 1 target on downside,Nifty  continued with its upward journey and make new life highs but closed negative on weekly basis after 6 straight weekly rise.Lets see how to trade next week.

 Nifty Hourly Chart

nifty hourly
Nifty Hourly charts has meet its trendline support@ 8500,Breaking the same we can see another round downmove move  till 8434/8400,Holding the same new high on cards.

 

 Nifty Hourly Elliot Wave Chart

Nifty Hourly EW

EW on Hourly chart is shown above Holding 8520 we can see upmove till 8630/50.

Nifty Daily Chart

nifty daily

Nifty daily chart with Vortex Indicator is shown above, which is approaching the neutral line , Till 8500 is not broken uptrend continues  Trendline confluence comes @ 8660/8680 levels.

 Nifty Harmonic

Nifty Daily Bias

Nifty continued with its impulsive rise with 33 days of rise and moving up 904 points, if 8627 is  broken the rise can continue with 8710/8723odd levels.Breaking of 8500 and closing below it on weekly basis we could have made a short term top.Nifty daily chart has turned into sideways mode with formation of Grey bar.

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 8450/8500 to enter.

Nifty Gann Date

As per time analysis 08 December +1   is Gann Turn date , except a impulsive around this date.  Last week we gave 01 December  is Gann Turn date and Nifty  showed expected move with formation of high@ 8623 and correcting till 8545.

 

Nifty Gann Emblem

 Gann Embelm

22 Dec and 16 Jan are very important date as per Gann Embelm.

 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
  • 8494-8588

Fibonacci technique

Fibonacci fan

nifty ff

8680/8700 should be watched closely on upside and 8450/8430 on downside.

 

Nifty Weekly Chart

nifty weekly

It was negative week, after  6 positive week in a row with the Nifty down by 50 points  closing @8588 . Weekly time frame as per Harmonic is still in Buy on Dip mode. Nifty will enter new time quadrant next week, will be interesting to watch the price analysis on next week.

Nifty Weekly Timeline 

 

Trading Monthly charts

nifty monthly

December have been favorite month for bulls as seen in above chart so can we see 9000 Nifty.

 Nifty Weekly Chopad Levels

 

Nifty Trend Deciding Level:8546

Nifty Resistance:8595,8676,8725

Nifty Support:8486,8434,8367

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.Please also read the detailed Disclaimer mentioned in the Right side of Blog.

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10 thoughts on “Nifty Weekly Analysis for 08-12 Dec

  1. Adhiraj Datta

    Sir, from where do you get info about how much buing or selling is occuring on a particular CE or PE?

  2. Anand

    very informative .Suggestion, analysis on Bank Nifty will be value added to your blog.

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