Nifty breaks 7500, Weekly Analysis

By | January 17, 2016

Last Week we gave Chopad Levels  of 7555 , Nifty opened gap down below chopad levels and made low of 7494 before bouncing back near 1 target of 7605,  Shorts  Intitated on Tuesday were rewarded with  2 target done by Tuesday only.Lets analyses how to trade nifty next week.

Traders should work on New Year resolutions and use the below 2 post for planning a successful and profitable 2016.

 Traders’ Resolutions for New Year-2016 

New Year Resolutions for Trading Success

Nifty Hourly Chart

 

NIFTY - PyrapointAs discussed in last analysis Break of 315 @7551 can see fast move till 7430.

Nifty moved perfectly in pyrapoint angles break support at 315 line, and saw a quick fall till 360 and took exact resistance at 315and again had a fall till 360 degree.

Break of 7420 can see fast move till 7290. Close above 7420 again a move towards 7610.

Nifty Harmonic

Nifty Harmonic

As discussed Last Week

Shark Pattern will get complete around 7503 level where we need to observe the price action. Holding the same we can see sharp bounceback.  Nifty bounced back 3 times from 7503 before finally closing it below 7503.

Now Nifty is forming an ABCD pattern which gets completed around 7221 as shown in above chart.

Nifty Gann Angles

gann angles

Gann angles are shown above as shown we can see move till blue line.

Nifty Supply and Demand

Supply Demand

Self explanatory chart of Weekly Supply and Demand zone is shown,Weekly close below 7563 can see moving towards 7118 levels.

Nifty Elliot Wave

NIFTY - Daily EWKeep in mind the possiblity of EW pattern.

Nifty Gann Date

Nifty As per time analysis  18/20 Jan  is Gann Turn date , except a impulsive around this dates. Last week we gave 12 Jan Nifty saw a volatile move.

Nifty Gaps

For Nifty traders who follow gap trading there are 15 trade gaps in the range of  7000-9000

  • 7067-7014
  • 7130-7121
  • 7276-7293
  • 7229-7239
  • 7454-7459
  • 7963-7937
  • 7741-7675
  • 8327-8372
  • 8937-8891
  • 8251-8241
  • 8232-8209
  • 8116-8130

Fibonacci technique

Fibonacci Retracement

nifty ff

7539/7323/72630  are levels to be watched in coming week.

Nifty Weekly Chart

NIFTY - Weekly Trendline

 

It was negative week, with the Nifty down  by 163 points  closing @7437 breaking the middle trendline as shown in above chart and closing below its 20/ 55/100 WEMA. Break of 7430 can see fast move till 7360/7290/7118 levels.

 

Trading Monthly charts

nifty monthly

Monthly chart broke support @61.8 % on Monthly charts.

Nifty PE

PE

Nifty PE @20.56 lowest from Oct 2014.

Nifty Weekly Chopad Levels

Nifty Trend Deciding Level:7376

Nifty Support:7327,7250,7165

Nifty Resistance:7457,7506,7555,7610

 

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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11 thoughts on “Nifty breaks 7500, Weekly Analysis

  1. Bramesh Post author

    Thanks for valuable advise Raja sir

    Rgds,
    Bramesh

  2. RAJMOHAN

    BRAMESHJI’s ARTICLES HELP US IN OUR TRADING JOURNEY LIKE SIGN BOARD / WARNING SIGNAL IN OUR SUCCESS.

  3. RAJMOHAN

    DEAR ALL, NEVER PREDICT BULLISH / BEARISH !! TRADE WHAT U SEE NOT WHAT U THINK.
    OUR ABILITY TO MAKE MONEY SIMPLY DEPENDS ON HOW MUCH CLOSE WE ARE AFTER THE MARKET MOVEMENT!

    DRIVE YOUR TRADING VEHICLE LIKE A SHADOW BEHIND MARKET.

  4. durairajan

    correction if its break 7393 not 7339– so much 3s and 9s confuse me while typing

  5. durairajan

    on 16.5.2014 nifty future high–7621 and low 7164 = 457*50%=7393 ,–and 457*61.8%=7339 and 457*70.7=7298 –so downside 7393 and 7339 and 7298 targets are there if its break 7339 nifty future

  6. durairajan

    7357 monthly pitchfork’s middle line is the only hope for nifty future support on monday

  7. saurabh78

    Dear Ddawra, Why are you so keen about giving bull count. Every time you have said about bull count, we fell like 9 pin. Earn money here and share your keen expertise. If you are earning here, then when actual bull count come, you are should be on holiday.

  8. ddawra

    Nifty will find support at 7360 and mark an end to this downmove, relief rally will lead to 7730 in next 3 weeks , if at all 7118 has to come it will not in the current fall, close above 7860 and the wave 4 from 9119 would be over leading to 9600 over medium term

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