Nifty form Bearish Engulfing ,Weekly Analysis

By | June 7, 2015

Last week we gave Chopad Levels  of 8450 ,Nifty did  3 target on downside rewarded Chopad followers .  Nifty form Bearish Engulfing on Weekly and Inverted Hammer on Daily chart  Lets analyze how to trade market in coming  week.

Nifty Hourly Chart

nifty hourly

Nifty Hourly charts with gann angles are drwan,Nifty took support @8×1 gann line and resistance lies @4×1 @8350. Break of 8057 can see move towards 8016/7961 odd levels.

Nifty Hourly Elliot Wave Chart

Nifty Hourly EW

Hourly charts EW target comes @8016 and if held can see move towards 8300/8450

Nifty Pyrapoint Analysis

NIFTY - Pyrapoint

As per Pyrapoint Analysis able to sustain above its 90 degree line, suggesting move towards its 112.5 degree line which lies near 7961.Resistance @45 degree line @8232.

 Nifty Market Profile

Market Profile

Nifty as per market profile if unable to cross 8210 downside is still present. Bullish above 8210 for short term target of 8338.

 

Nifty Gunner

Nifty Gunner

As per gunner nifty is still holding 2×1 gunner line if held bulls have hope for target of 8232/8338.

Nifty Harmonic

Nifty Harmonic

Nifty has completed the BAT pattern on downside.

Nifty Daily Elliot Wave Chart

NIFTY - Daily EW

As per EW more legs are left to the rally use dips around 8000/7900  to take exposure to quality large and mid caps stocks. NO leveraged positions this for cash market traders.

 

Nifty MML

Nifty MML

Unable to cross 8126 short term target 7971. Holding above 8126 short term target 8281.

Nifty Gann Date

Nifty As per time analysis 08 June/10 June  is Gann Turn date , except a impulsive around this dates. Last week we gave 02 June/05 June Nifty saw a volatile move .

 Nifty Gaps

For Nifty traders who follow gap trading there are 14  trade gaps in the range of  7000-9000

  • 7067-7014
  • 7130-7121
  • 7276-7293
  • 7229-7239
  • 7454-7459
  • 7526-7532
  • 7598-7568
  • 7625-7654
  • 7780-7856
  • 7927-7974
  • 8057-8089
  • 8262-8271
  • 8365-8391
  • 8937-8891

 

Fibonacci technique

Fibonacci fan

nifty ff

Close at 23.6% retracement zone heading towards 38.2%

 

Nifty Weekly Chart

nifty weekly

It was negative week, with the Nifty down by 318  points  closing @8114 , and closing below its 20 WSMA and above its 55 EMA. Nifty Weekly formed bearish engulfing pattern  on weekly charts. Nifty has seen lowest closing of 2015. Break of 8056 can see move towards 7997/7961/7910. Holding the low can see nifty moving intital move towards 8232 and 8310. As per time analysis next cycle till 14 June will be neutral to bearish.

Nifty Weekly Timeline

 

Weekly Gunner

Weekly Gunner

Gunner weekly charts also suggests nifty moving towards green arc , unable to hold the green arc can see nifty moving towards the horizontal line.

Trading Monthly charts

nifty monthly

Monthly chart broke 23.6 % retracement.

Nifty PE

PE

As per PE ratio has again down  to 22.49, Result season finally showed effect and nifty corrected almost 5% from 23 odd levels.

Nifty Weekly Chopad Levels

Nifty Trend Deciding Level:8156

Nifty Resistance:8212,8291,8368

Nifty Support:8056,7961,7810

 

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 form Bearish Engulfing ,Weekly Analysis

  1. Bramesh Post author

    As discussed investors can start accumulation stocks in SIP manner with out leverage.Do not put all money at single shot keep accumulating.

    Rgds,
    Bramesh

  2. Mohit

    Thank you sir ! Sir i have started purchasing stocks in SIP mode , so as per time analysis post 15th june , the cycle is turning Bullish ? As you had mentioned in one of your earlier posts.

    Regards,
    Mohit.

  3. Bramesh Post author

    Nifty engulfed previous week candle.

    Rgds,
    Bramesh

  4. Bramesh Post author

    Dear Mohitji,

    I have already mentioned in above post cash buys can be taken with no leverage.

  5. Mohit

    Bramesh ji as per time analysis till 14th june bias is neutral to bearish . So after 15th june will the next cycle of time analysis be Bullish? As is it right time to purchase cash stocks now .

    Thank you !

  6. Kunal Gosar

    Nifty support after7961 is 7810…..
    r levels right sir or typing mistake

  7. ravi

    please update nifty analysis for 8 june 2015

  8. H BASAVARAJ

    Oi data is missing even in NSE website its missing any reasons Brahesh ji

  9. Pradeep Shah

    Dear Bramesh, What is Your analysis as per Murry Math,

  10. rajveer

    great analysis, thank you. 8000 is critical support if we breach that convincingly we can head to 7750. The rupee is also weak and bank nifty is underperforming.

  11. Yusuf

    Brameshji..
    8057–8089 gap got filled on Thursday…

  12. Amit

    Can you suggest levels for Ashok Leyland Thanx

  13. bharatkumar11

    Bramesh, technically speaking, 29th May close was 8433 and 1st June open was 8417.. For engulfing to happen, the previous body should be completely covered by the new body..So it ACTUALLY not bearish engulfing on weekly.. 🙂
    Please correct me if I am wrong..

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