Last week we gave Chopad Levels of 8546 , Nifty opened with gap down and show a swift recovery from the lows and gave a long entry to Chopad followers which got stopped out and gave short entry on Tuesday and did 2 target on downside. Nifty made low of 8316 almost meeting 2 Chopad Level of 8323. Lets analyze how to trade market in coming week as we will get to know if Greek will get Bailout from its creditors before market opens on Monday. As of now Eurogroup Meeting Ends Without Agreement
Nifty Hourly Chart
Breakout will come only on hourly close above 8412 as shown in above chart based on gann angle. Support in zone of 8313-8283.
Nifty Hourly Elliot Wave Chart
Hourly charts on Elliot wave shows we are heading towards 8600/8636 once 8413 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 8283 on cards.
Supply Demand Zone
Nifty has bounced from its demand zone as shown in above chart. Holding the same nifty can move towards its supply zone of 8670.
Holding Gunner red arc price can move towards 2*1 gann angle.
Harmonic also suggests if range of 8412-8430 is held rally can continue till 8740/8800 in next 2 weeks. Else breaking below 8300 can see nifty moving towards 8195/8100
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.
8276 is MML support zone and Resistance at 8440.
Nifty Gann Date
Nifty As per time analysis 14 July is Gann Turn date , except a impulsive around this dates. Last week we gave 08 July/10 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 if 50% is held as per Fibo Fans.
8389/8499/8527 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 8286.
Nifty Weekly Chart
It was negative week, with the Nifty down by 124 points closing @8360 forming inverted hammer, and closing above its 55 WEMA and below its 20 WSMA. As per harmonic weekly bias nifty is ready for breakout on upside once 8561 is crossed and sustained. Time Analysis of showing positive move after 14 June worked perfectly
Gunner weekly charts bounced perfectly from red arc and horizontal line and support @grey line as shown in above chart.
Trading Monthly charts
Monthly chart after 2 Month of hammer candlestick, bullish only above 8370.
Nifty PE has broken on upside, and came down to take support at the triangle line. Lets see how result season move ahead .
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:8416
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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