Nifty Weekly Technical Analysis

By | January 4, 2015

Last week we did not share any weekly analysis, As per Historical data Important Swing low and high are formed in 1 week of January so keep a close eye on Nifty price action in coming week. Infosys results will be declared on 9 Jan, this time the timings have changed to 12:30 PM. Lets analyze how to trade Nifty in coming week.

 Nifty Hourly Chart

nifty hourly
Nifty Hourly charts is approaching its trendline resistance @8410/420 crossing the same the up move will continue till 8484/8530 else we might /see pullback again towards 8350/8280 odd levels.

 Nifty Hourly Elliot Wave Chart

Nifty Hourly EW

Elliot wave chart  on Hourly is shown above suggesting upmove can continue further and 8480/8550 will decide further course of action.

 

Nifty Daily Chart

Nifty Gann

Nifty daily chart with Gann Box is shown above. Its heading towards green line resistance  of gann box, crossing the same up move continues  till 8500/8550, strong support @ blue line cmp@8351..

 Nifty Ichimoku Kinko Hyo

nifty daily

Nifty Ichimoku Kinko Hyo has also generated a buy singal

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

As per time analysis 06 Jan is Gann Turn date , except a impulsive around this date.

 

Nifty Gann Emblem

 Gann Embelm

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
  • 8029-8084
  • 8159-8208
  • 8284-8288

Fibonacci technique

Fibonacci fan

nifty ff

Nifty took exact support @ gann fan and now entering the resistance zone in range of 8420/8440

 Fibonacci Retracement

nifty fibo

Crossed in 61.8% retracement of fall from 8628-7961 hence bullish in short term,follow upmove is required above 8420 for further confirmation.

Nifty Weekly Chart

Nifty Weekly Andrew Pitchfork

It was positive week, with the Nifty up by 194  points  closing @8395 forming a bullish engulfing candlestick pattern and trading in its uptrending channel . Weekly time frame as per Harmonic suggests Nifty is still in buy on dips mode . Nifty started the new time cycle with a positive week. Jan 5-6 are important dates as per time analysis hence price action needs to be closely watched.

Nifty Weekly Timeline 

 

Trading Monthly charts

nifty monthly

2 Monthly candels are compared in above chart, if historical price action is to be repeated expect a bullish January.

 Nifty Weekly Chopad Levels

 

Nifty Trend Deciding Level:8416

Nifty Resistance:8465,8546,8627

Nifty Support:8340,8285,8214

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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18 thoughts on “Nifty Weekly Technical Analysis

  1. VijayRaghav

    Hi Sir, In Gan Emblem, I see Jan 16th as Gan date. Please let me know how the Jan 6th was arrived. Thanks

  2. prakash tanak

    Can you please elaborate your 2 statements

    1. “As per time analysis 06 Jan is Gann Turn date , except a impulsive around this date”

    2.”Jan 5-6 are important dates as per time analysis hence price action needs to be closely watched.”

    This is very important because of today’s dramatic fall in NIFTY & SENSEX.

  3. deepak

    Excellent analysis as always. Keep up this good work for years to come. Wish you good luck for 2015. Thank you

  4. Bramesh Post author

    I will write a post on it to get better understanding.

    Rgds,
    Bramesh

  5. Chanchal Kumar Chakraborty

    Sir, Pl. post EW analysis of Nifty Wkly Chart.

  6. Vilas Hartalekar

    Respected Sir,
    Will you give regularly FII FnO Data Analysis of Bank-Nifty,like Nifty Spot Data. So we will get Good Knowledge,Good guidance of you in Bank-Nifty also.
    Hats-up to you and salute to your hard work.
    Thanks for sharing valuable Knowledge.
    Wishing you a very happy newyear.
    Thanks.

  7. Alok Kumar Singh

    Why 17 oct is first date in Gann emblem? Also, where I can get more on Gann methods?

  8. MRINAL SAHA

    Wishing you a fantastic fantabulous New Year. I am waiting for your valuable research in coming days ……Thanks for sharing valuable analysis

  9. Ravi

    Happy to see this analysis. Wishing you a very happy new year.

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