Nifty Forms Weekly Doji,Weekly Forecast

Last Week we gave Chopad Levels  of 8120, Nifty gave Long entry on Monday made low at 8107 near Chopad of 8085, and did 2 target on upside,Lets analyze how to trade in coming week as we see after effect of Brexit.

Nifty Hourly Chart

nifty hourly

Hourly Chart resistance at 8111 and above that 8242. Support at 7921/7851

Nifty Harmonic

Nifty Harmonic

As discussed in last analysis As Nifty did not hold on to 8242-8262 range so the downmove can end near 7971 as per Deep Crab Pattern.

Low made 7927, Now if we continue to close above 7927 we can see move towards 8500.

Nifty Gann Angles

gann angles

Self Explanatory Gann Angle chart

Nifty Supply and Demand

Supply Demand_Weekly

Next move towards 8336 holding 7921.Below 7921 target 7777

Nifty Gann Date

Nifty As per time analysis 28 June  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.

  • 7222-7308
  • 7368-7406
  • 7748-7809
  • 7934-7948
  • 8100-8270
  • 8937-8891

Nifty Weekly Chart

NIFTY - Weekly Trendline

It was negative week, with the Nifty down by 81 points  closing @8089.Nifty has been trading in the weekly channel as shown above, Bulls again managed to close above the weekly channel suggesting they are still in play.

Trading Monthly charts

nifty monthly

Monthly closed above  61.8% retracement ,signaling bulls have not lost it yet

Nifty Weekly Chopad Levels

Nifty Trend Deciding Level:8111

Nifty Resistance :8180,8273 ,8336

Nifty Support :8020,7930,7851


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:

    thanks its corrected..

    June 27, 2016
  2. Sk said:

    To all, please don’t write your own suggestions without any technical analysis and don’t mislead other viewers

    June 26, 2016
  3. Preet said:

    Nifty has formed High wave line on weekly chart patterns.Its a strong reversal pattern.Historically such pattern formation on a top of a rally has given sharp correction in next one month.Remember NIFTY Top of 9119 made last year was a High wave line on weekly chart patterns and nifty gave sharp correction thereafter.So from closing level of 8089 we can see correction of minimum 300 points in next one month.Markets has also made double top pattern on daily charts which has bearish implications going forward.

    June 26, 2016
  4. Preet said:

    It is always said Markets discounts every good or bad news in financial markets in advance but European markets were overconfident and rallied going into major event.BRITIAN Leaving EU has larger ramifications for world markets.its not a event which will get discounted in one week timeframe.Indian markets will do get impacted with uncertainty due to exposure of indian companies to foreign world impacting their EPS forecast going forward.Big positve for india was good Monsoon forecast by IMD and skymet on 11 April 2016.Nifty from that date rallied from 7500 to 8300.So indian markets can be choppy with downward bias in very near term as there can be risk off in riskier assets like equities in near term.

    June 26, 2016
  5. Souraj said:

    Nifty support and resistance levels are interchanged..

    June 26, 2016

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