Last week we gave Chopad Levels of 8156 , Nifty gave entry to DISCIPLINED Chopad Followers on Short on Monday and Long Entry on Friday rewarded them with 140 points as Nifty did all 1 target on upside and 1 on downside with a low volatile week. Lets analyze how to trade market in coming week as we have trading Holiday on Thursday on account of Dusherra.
Nifty Hourly Chart
Nifty Hourly charts are shown above says closing above 8250 we can see quick move towards 8280/8320 and unable to close above it can see back to 8150/8100 odd levels.
Gunner also suggest resistance around 8250/8270 range above than breakout till 8321/8350 odd levels.
Nifty Supply and Demand with Gann Swing Point
This is what we discussed last week 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 green arrows in above chart.
Nifty Gann Date
Nifty As per time analysis 23 Oct is Gann Turn date , except a impulsive around this dates. Last week we gave 13 Oct/16 Oct Nifty saw a volatile move .
For Nifty traders who follow gap trading there are 15 trade gaps in the range of 7000-9000
8228/8329/8142/80972 should be watched in coming week.
Heading towards the base line in fibo fans.
Nifty Weekly Chart
It was positive week, with the Nifty up by 48 points closing @8238 forming Hanging Man candlestick, and closing above 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 @22.51 , entering the result season with expensive valuation.Most of results have been inline or below expectation.
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:8250
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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