Nifty unable to hold 7850/7777,Weekly Analysis

Last Week we gave Chopad Levels  of 7921 , Nifty gave Long entry on Tuesday which did 1 target on Monday Longs taken got Stopped out on Thursday and Shorts initiated on Thursday did 2 target on downside low made was 7788 which was near our 2 target of 7777. Lets analyses how to trade nifty in coming week, Will the age old adage , “SELL IN MAY AND GO AWAY” hold true in May month.

Nifty Hourly Chart

NIFTY - Pyrapoint

As discussed in last analysis Nifty is unable to close above 7978 where 1 rotation of price is getting completed, For Bulls to come back we need a close above 0 degree price above 8000.Close below 7777 can see market moving towards 7546. We did till 7678 now coming week once 7650 breaks we can see fast move towards 7500-7520. Bullish only on close above 7777.

Nifty Harmonic

Nifty Harmonic

Unable to close above 7777 can see move till 7500.

Nifty Gann Angles

gann angles

As discussed in last analysis Nifty showed an important breakout this week as first time after  04 March Nifty has broken an important gann angle as shown above,Now for coming few weeks 7777 needs to be watched. If held on it nifty can move towards 8100/8250 as per gann price and time analysis. Failed to hold 7777, support at 7500, below than can saw a swift fall towards 7200. Only above 7777/7850 bulls have a chance.

Nifty Supply and Demand

Supply Demand_Weekly

Close below 7777 for next week  move towards 7517.

Nifty Gann Date

Nifty As per time analysis 11/13 May  is Gann Turn date , except a impulsive around this dates.

Nifty Gaps

For Nifty traders who follow gap trading there are 6 trade gaps in the range of  7000-9000, rest all gaps were filled in the last week fall.

  • 7109-7090
  • 7222-7308
  • 7368-7406
  • 7387-7275
  • 7298-7271
  • 7708-7777
  • 8937-8891
  • 8251-8241
  • 8232-8209
  • 8116-8130

Nifty Weekly Chart

Weekly Channel

It was negative week, with the Nifty down by 116  points  closing @7733 falling for 3 weeks in a row , close near the upper line of  AF from where it breakout , closed below gann number of 7850/7777, So if we do not close above 7850 High probability we will go towards 7550 in next 1-2 weeks.

Trading Monthly charts

nifty monthly

Monthly chart support at 50% and bounced from that and resistance at 61.8%

Nifty Weekly Chopad Levels

Nifty Trend Deciding Level:7777

Nifty Resistance :7840,7900,7972

Nifty Support :7700,7644,7555


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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  1. Bramesh said:

    Keep SL at TC level

    May 10, 2016
  2. nikhil said:

    NIFTY7900CE bought 2lot at 140 shall hold or exit. or alternatively can 7800 PE should be brought. pl suggest how to trade nifty.

    May 9, 2016
  3. Sir,
    Lot of thanks.please send me Master Ilango Sirs email id.
    Always grateful to you.

    May 9, 2016
  4. Bramesh said:

    Very happy for you 🙂 Atleast few of the readers are getting befitted..

    May 9, 2016
  5. Bramesh said:

    Please send mail to Sir he will give you approval

    May 9, 2016
  6. Bramesh Sir,
    Heartful thanks.
    Please guide me how to assess justnifty from Master Ilango.I am unable to assess it after its migration to word press.please guide. Grateful to you.

    May 9, 2016
  7. Ashish said:


    May 8, 2016
  8. K Mohan said:

    . Thanks for your weekly analysis I follow only the nifty harmonic and now I am able to make some money out of the market. God bless you.
    K Mohan.

    May 8, 2016
  9. Bramesh said:

    thanks it corrected

    May 8, 2016
  10. Harsha said:

    Thanks for analysis Brahmeshji, second Gann date seems to fall on Saturday, hope same is not a typo error, please keep your good work going.

    May 8, 2016

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