Bulls and Bear will Fight for 8888, Nifty Weekly Analysis

By | January 26, 2015

Last week we gave Chopad Levels  of 8556 Nifty did 3 target  on upside. Bulls are on rampage on Dalal Street, catching many traders on wrong foot and rewarding discipline and trend follower handsomely.  Lets see how to trade nifty in coming week.

 Nifty Hourly Chart

nifty hourly
Nifty Hourly charts has broken above the trendline resistance signalling move towards new high, Any correction new the trendline support will give a good opportunity to go long.

 Nifty Hourly Elliot Wave Chart

Nifty Hourly EW

Elliot wave chart  on Hourly is shown above suggesting upmove can continue further and 8888 will decide further course of action.

 

Nifty Daily Chart

nifty daily

This is what we discussed last week Nifty daily chart has completed 56 trading days from the low formed on 17-Oct, as per gann theory next week will be very crucial as per time theory, Also Nifty for 3 time has taken support near 100 DMA also forming triangle formation with breakout, breakdown offing in coming week. So Gann effect was seen with big rise on 15 Jan and we have seen the triangle breakout. Target of Triangle breakout comes @9147.

 Nifty Harmonic Pattern

Nifty Daily Bias

After completion of bullish butterfly pattern Now Nifty is forming a bearish ABCD pattern so longs should trade cautiously, as 8888 will play very crucial now. Any close above it for 2 days we can see up move till 9200/9500, Unable to close above it we can see downfall till 8600/8350 in medium term.

Nifty ABCD

Nifty Daily Elliot Wave Chart

NIFTY - Daily EW

As per EW more legs are left to the rally use dips to take exposure to quality large and mid caps stocks.

Nifty Gann Date

Nifty As per time analysis 28 Jan +-1 day is Gann Turn date , except a impulsive around this date. Last week we gave 21 Jan +-1 Day  and Nifty saw 144 points rise on 20.

 

Nifty Gann Emblem

 Gann Embelm

16 Jan are very important date as per Gann Emblem. RBI news came 1 day before the gann emblem date Next important day to keep in mind is 16 Feb.

 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
  • 8029-8065
  • 8378-8327
  • 8102-8167
  • 8277-8380
  • 8513-8531
  • 8550-8574
  • 8761-8795

Fibonacci technique

Fibonacci fan

nifty ff

Nifty took exact support @ gann fan and is on trending move.

Nifty Weekly Chart

nifty weekly

It was positive week, with the Nifty up by 321  points  closing @8835  and trading in its uptrending channel . Weekly time cycle also started in positive note, its time to be cautious now as Nifty is approaching its trendline resistance in daily, weekly and monthly charts so book some profit in nifty and stocks positions.

Nifty Weekly Timeline 

 

Trading Monthly charts

nifty monthly

Uptrending Monthly channel is still on, so new highs can still come.

 Nifty Weekly Chopad Levels

 

Nifty Trend Deciding Level:8806

Nifty Resistance:8888,8957,9079

Nifty Support:8744,8680,8600

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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4 thoughts on “Bulls and Bear will Fight for 8888, Nifty Weekly Analysis

  1. Bramesh Post author

    Any date can be taken as base date based on one understanding on subject. We stick to 17 oct as per 52 week cycle.

    RGds,
    Bramesh

  2. Vetri

    Sir. An quick clarification. You pick up the Gann Emblem dates from the Gann chart and say that Feb 16 will be the next turn date. You have prepared this Gann Chart with the base date as Oct 17 as that was a big turn from 7724 levels. May I know how long would you continue to have Oct 17 as your base date? Could the base date be changed now to Dec 17 as that was also an big turn date from 7961 levels. Just an clarification to understand on how long we go with Oct 17 as base date. Thanks.

  3. mohit jain

    Bramesh ji their are 17 gaps in nifty 7000 to 8765 nifty can fill thease gaps any time in next nd fills then whats time nifty have manny gaps betwin 5000 to 7000 now from 9 months nifty not filling their gaps all gaps are opened

  4. mohit jain

    Bramesh ji good analisis buy you nd manny traders whoes fallow your artickel they can proteckt their mony your 3 stocks not come for tuesday

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