Last week we gave Chopad Levels of 8330 , Nifty opened with gap down and show a swift recovery from the lows and gave a good entry to Chopad followers and did 3 target on upside. Nifty made high of 8497 almost meeting our 2 Chopad Level of 8519 Lets analyze how to trade market in coming week as we will get results of Greek referendum before market opens on Monday. We have shared the Goldman report discussing various scenarios, readers can read the report by clicking on the link How Markets Will React to Greek Referendum
Nifty Hourly Chart
Breakout will come only on hourly close above 8500 as shown in above chart.
Nifty Hourly Elliot Wave Chart
Hourly charts on Elliot wave shows we are heading towards 8600/8636 once 8500 is crossed and sustained.
Nifty Pyrapoint Analysis
As per Pyrapoint Analysis till 8350 is held @45 degree line bulls are in control and can head above to 8636 odd levels, below that 8200 on cards.
Supply Demand Zone
Nifty is on verge of breaking out of supply zone, once done 8636/8740 on cards. Unable to break and sustain above 8500 can see pullback to 8370/8350 odd levels.
As per Gunner if price moves too steep (ie. outside of the 1*2 or 2*1 Angles) then it’ll fall fast but also rebound fast.
So will the Nifty open gap up above 1*2 line on Monday will be tacked closely.
Harmonic also suggests if range of 8432-8450 is held rally can continue till 8740/8800 in next 2 weeks.
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.
Traders who bought must have bee rewarded.
8424 is MML support zone and Resistance at 8592.
Nifty Gann Date
Nifty As per time analysis 08 July/10 July is Gann Turn date , except a impulsive around this dates. Last week we gave 29 June/02 July Nifty saw a volatile move .
For Nifty traders who follow gap trading there are 15 trade gaps in the range of 7000-9000
Heading towards 61.8% retracement as per Fibo Fans.
8499/8527 is fibo retracement as shown above are important level to be watched in coming week once crossed can head towards 8652/8665. Strong support in 8393/8388 and 8286.
Nifty Weekly Chart
It was positive week, with the Nifty up by 103 points closing @8485 , and closing above its 55 WEMA and its 20 WSMA. As per harmonic weekly bias nifty is ready for breakout on upside once 8500 is crossed and sustained. As per time analysis next cycle from 06-10 July will be Volatile cycle with underlying trend neutral to bullish. Time Analysis of showing positive move after 14 June worked perfectly
Gunner weekly charts bounced perfectly from red arc and horizontal line and resistance @grey line as shown in above chart.
Trading Monthly charts
Monthly chart after 2 Month of hammer candlestick, has started the July month of bullish note till 8370 not broken bias is bullish.
Nifty PE has broken on upside, earning season starting from 09 July will be closely watched.
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:8546
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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