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
Hourly Chart resistance at 8111 and above that 8242. Support at 7921/7851
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
Self Explanatory Gann Angle chart
Nifty Supply and Demand
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.
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.
Nifty Weekly Chart
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
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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