Nifty Weekly Analysis for March Expiry

By | March 22, 2015

Last week we gave Chopad Levels  of 8595  Nifty did not reach chopad levels for most part of week and it did on Friday and did 1 target on downside.  Lets analyze how to trade next week which is also Expiry for March Series.

 Nifty Hourly Chart

nifty hourly

Nifty Hourly charts is near its trendline support and trading well below 21/34 EMA, and is entering the demand zone and should be used by traders to cut down shorts. 8500/8470 is demand zone. As mentioned last week If we draw 16×1 gann line as shown in above chart support comes in range of 8542-8555 Nifty. Low made was 8553 on Nifty

 Nifty Hourly Elliot Wave Chart

Nifty Hourly EW

ABC correction is on the verge of completing in range of 8553/8500 and counter trend rallly of 150-200 points should be seen if supports are held.

 Nifty Market Profile

Market Profile

This is what we discussed last week As per Market Profile 8601  should be watched in coming week, Holding the same bounce back can be seen till 8723 odd levels. Weakness will creep below 8601  levels for 8542/8460 odd levels.

Nifty made low of 8612 on Monday and rallied back till 8878 before correctng and broke 8601 on Friday and made low of 8553 as per our analysis on Market profile.

Coming week 8605 should be watched closing above it 8650/8746 are short term target.

 

 Nifty Daily

nifty daily

Nifty is coming near its channel support also 100 DMA so counter trend rally can be seen around levels of 8509/8517.

Nifty Correction

Nifty Correction

All the correction which has happened in current bull market has been market, maximum correction was seen was for 13 trading session. Last correction from 8996 to 8470 was 526 points was for 8 days , current correction started from 9119  has completed 12 session in time value terms and 566 in price correction.

Nifty Harmonic

Nifty Harmonic

Harmonic pattern shows the completion of bearish pattern now waiting for counter trend rally Will Nifty oblize ?

Nifty Daily Elliot Wave Chart

NIFTY - Daily EW

As per EW more legs are left to the rally use dips around 8500/8460  to take exposure to quality large and mid caps stocks. NO leveraged positions this for cash market traders.

Nifty Gann Date

Nifty As per time analysis 24 March/27 March +-Day  is Gann Turn date , except a impulsive around this dates. Last week we gave 16/20 Mar Day  and Nifty saw a volatile move on both the days .16 it created short term bottom and rallied and 20 made a new low.

 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
  • 8937-8891

Fibonacci technique

Fibonacci fan

nifty ff

Nifty near its Fibo fan support so next week we need to see do we get the follow up move.

nifty fibo8540 is 50% retracemeent number also

Nifty Weekly Chart

nifty weekly

It was negative week, with the Nifty down  by 76  points  closing @8571 , and took its 20 WSMA which has given support in past 3 times as seen in above chart.Also we are entering a new time cycle from 09March-27 March which will be highly volatile so trade cautiously. As per Gunner pattern we are entering a new quadrant next week.

Nifty Weekly Timeline

Weekly Gunner 

 

Trading Monthly charts

nifty monthly

Monthly lower trendline support @8540/8555.

Nifty PE

PE

As per PE ratio we are entering to higher end of 24. 28 is bubble category which was formed in 2000/2008, Still away from Bubble valuation but need to caution on delivery position.

Nifty Weekly Chopad Levels

Nifty Trend Deciding Level:8595

Nifty Resistance:8676,8723,8800

Nifty Support:8520,8486,8402

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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8 thoughts on “Nifty Weekly Analysis for March Expiry

  1. Anand

    I was of the view that by expiry short covering should happen and this should bring the Nifty up. Is this a sensible logic?

  2. Deepak Kumar

    Thanks Bramesh Ji again for detailed analysis of Nifty from every angle of technicals. It seems, one decline below 8555 is still possible on Monday or in coming session without breaking above 8631. Hope Nifty will show your support levels of 8500, 8460 next week.

  3. adi

    Sir, can we make it simpler for an average person like me…what is recommended buy or sell

  4. Darshan

    Dear Sir

    5509/8517 in nifty daily needs correction

  5. biju2222@gmail.com

    I think there is tug of war between HNI vs FII. FII in + & HNI bearish. One has to reverse position. FII has good cash flow, so my opinion FII win & close this seris above 8750.

  6. mohit jain

    Bramesh ji good analises but not discus about bank nifty

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