Last week we gave Chopad Levels of 8156 ,Nifty made high of 8163 and did 2 target on downside rewarded Chopad followers . Lets analyze how to trade market in coming week.
Nifty Hourly Chart
As discussed last week Break of 8057 can see move towards 8016/7961 odd levels. Nifty Hourly charts with gann angles are drawn,Nifty broke the @16×1 gann line and resistance will be @8×1 @8056. Also Bull Power indicator is crossing the median line which if sustained can see relief rally coming in market till 8147/8290 odd levels.
Nifty Hourly Elliot Wave Chart
Hourly charts EW target comes @788 and if 8000 is broken on MOnday we can see fast move on upside.
Nifty Pyrapoint Analysis
As per Pyrapoint Analysis Bullish move only on Hourly close above 135 line @8060. Support @ 180 line @7914
Nifty Market Profile
Nifty as per market profile if able to cross 8027 upside target comes to 8159. Bearish below 7903 for short term target of 7829.
As per gunner nifty is still holding 2×1 gunner line if held bulls have hope for target of 8157/8232.
Nifty has completed the BAT and ABCD pattern on downside. Holding lows can see bullish upside move.
Nifty Daily Elliot Wave Chart
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.
Unable to cross 7971 short term target 78131. Holding above 8000 short term target 8126/8281.
Nifty Gann Date
Nifty As per time analysis 17 June/20 June is Gann Turn date , except a impulsive around this dates. Last week we gave 08 June/10 June Nifty saw a volatile move .
For Nifty traders who follow gap trading there are 14 trade gaps in the range of 7000-9000
Took support @38.2%
Nifty Weekly Chart
It was negative week, with the Nifty down by 131 points closing @7982 , and closing below its 20 WSMA and its 55 EMA. . Nifty has seen lowest closing of 2015 and below 8000. Weekly charts are oversold and showing divergence . Holding the low can see nifty moving intital move towards 8057 and 8232. As per time analysis next cycle from 15 June will be neutral to bullish .
Gunner weekly charts move towards the horizontal line as discussed lat week,
Trading Monthly charts
Monthly chart broke 23.6 % retracement.
As per PE ratio has again down to 22.12, Result season finally showed effect and nifty corrected almost 5% from 23 odd levels.
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:8026
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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