Last week we gave Chopad Levels of 7563 , Shorts were stopped out on Tuesday and long taken as per Chopad levels got rewarded with 200 points as Nifty did all 3 targets. Important Events For Next Week – All eyes on Fed, BoJ and Greece and we also have trading Holiday on 17 Sep. Lets analyze how to trade market in coming week.
Nifty Hourly Chart
Nifty hourly chart is in neutral mode as it closed around 21/34 EMA, also forming contracting triangle pattern whose targets are shown above.
Nifty Supply and Demand
Closing above 7865 nifty is heading towards 7958.
Nifty Gann Box
Support @270 and Resistance @225 as per pyrapoint analysis, Breaking the same big move will be seen,
Nifty Harmonic Analysis
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 15 September/18 Sep is Gann Turn date , except a impulsive around this dates. Last week we gave 08 September/10 Sep Nifty saw a volatile move .
For Nifty traders who follow gap trading there are 15 trade gaps in the range of 7000-9000
7961 is 38.2% retracement /7907 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 134 points closing @7789 , and closing below its 55 WEMA and 20 WEMA and held its trendline support as shown in above chart.
Trading Monthly charts
Monthly chart took support @50% retracement line and showed bounce back.
Nifty PE @21.59 , so at last seeing some correction in valuation
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:7815
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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