Last week we gave Chopad Levels of 7555 , Nifty opened and made low of 7551 Chopad levels, Long Intitated on Monday were rewarded with all three target done by Wednesday.Lets analyze how to trade market in coming week. This will be the Last weekly analysis of 2015 as coming week due to personal commitments No Weekly and Daily Analysis will be published from 24 Dec-30 Dec.
Nifty Hourly Chart
As discussed last week Nifty trading in pyrapoint angles in range of 270/315, break of any one of them will be see another move of 125 points so break of 7575 can lead to fall near 7400, holding 7575 can see move back to 7700
Nifty moved perfectly in pyrapoint angles and again approaching the 270 line, closing below it can again see nifty moving towards 315/360.
SHARK Pattern will be formed if we go near 7550/7530 and close above it, Below that the pattern will FAIL/INVALIDATED.
Low made 7551 and nifty made high of 7852 which almost near to the target of 7860.
Now 7738/7702 should be watched closing below this will increase porperblity of market breaking 7551 and 7539
Nifty Gann Angles
Nifty Supply and Demand
Self explanatory chart of Weekly Supply and Demand zone is shown,Weekly close below 7560 can have serious implication with Nifty falling as low as 7118. Nifty Weekly closing above 7921 can give Bulls edge.
Nifty Gann Date
Nifty As per time analysis 23 Dec is Gann Turn date , except a impulsive around this dates. Last week we gave 17 Dec Nifty saw a volatile move.
For Nifty traders who follow gap trading there are 15 trade gaps in the range of 7000-9000
7842/7709 are levels to be watched in coming week.
Nifty Weekly Chart
It was positive week, with the Nifty up by 151 points closing @7762,unable to close above trendline and closing below its 20 WEMA and 55 WEMA and 100 WEMA .100 WEMA has supported last 6 time now now has failed suggesting beraish view till we do not go over it. Starting with new time cycle in coming week.
Nifty PE @20.99 , corrected from trendline resistance.
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:7717
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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