Last week we gave Chopad Levels of 8000 , Nifty Opened at 8005 gave entry to DISCIPLINED Chopad Followers and rewarded them with 188 points as Nifty did all 3 target on upside. Lets analyze how to trade market in coming week as we have result season starting with Infosys results.
Nifty Hourly EW Chart
Nifty Hourly charts are shown above says 8268-8284 range is where the current upmove can see halt and we can get pullbcak till 8100/8060.
Gunner also suggest resistance around 8269
Nifty Supply and Demand with Gann Swing Point
This is what we discussed last week For coming week again 7958 is point of focus closing above it can see 8075/8113/8182 and unable to do that other move towards 7767.
For Coming Week 8174 should be watched holding above it 8232/8269/8370 should be seen, below it 8060/8008
Gann Swing points are market with red and green arrows in above chart.
Nifty Gann Date
Nifty As per time analysis 13 Oct/16 Oct is Gann Turn date , except a impulsive around this dates. Last week we gave 05 Oct/09 Oct Nifty saw a volatile move .
For Nifty traders who follow gap trading there are 15 trade gaps in the range of 7000-9000
8228/8097/7965 /7912/7802 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 238 points closing @8190, and closing below its 20 WEMA and above 55 WEMA and bouncing after taking support from 100 WEMA and held its trendline support as shown in above chart.
Trading Monthly charts
Monthly chart took support @61.8% retracement line and showed bounce back.
Nifty PE @22.28 , entering the result season with expensive valuation.
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:8156
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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