Last week we gave Chopad Levels of 7815 , long taken as per Chopad levels got rewarded with 240 points as Nifty did all 3 targets on Upside as High made was 8055 which as 1 point short of our 3 target of 8056. We have trading Holiday on 25 Sep. Lets analyze how to trade market in coming week.
Nifty Hourly Chart
Nifty hourly EW chart shows if 8055 is not broken we can see downmove till 7800 in coming week.
Nifty Hourly Gann Box
Nifty is near an important gann support line unable to cross can see downmove till 7948/7850 in coming week.
Got Resisted @ 135 degree heading towards 180 @7928 and below that 7800.
Nifty Supply and Demand
Supply Demand zone caught top @8055 as shown by Blue arrow bow break of 7958 and close below it for 2 days can see nifty going down till 7767.
Nifty Harmonic Analysis
As discussed last week bounced till 8055 Nifty as per Harmonic Analysis has formed Butterfly pattern if 7563/7550 is held nifty can boucne back to 8050/8200 odd levels.
Nifty Gann Date
Nifty As per time analysis 21 September/24 Sep is Gann Turn date , except a impulsive around this dates. Last week we gave 15 September/18 Sep Nifty saw a volatile move .
For Nifty traders who follow gap trading there are 15 trade gaps in the range of 7000-9000
7965 /7917/7802 should be watched in coming week.
Touched the high of Fibo Fan and retraced back.
Nifty Weekly Chart
It was positive week, with the Nifty up by 192 points closing @7981 , and closing below its 55 WEMA and 20 WEMA and held its trendline support as shown in above chart. We are entering new time cycle from coming week.
Trading Monthly charts
Monthly chart took support @61.8% retracement line and showed bounce back.
Nifty PE @22.12 , so at last seeing some correction in valuation
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:7930
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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