Last Week we gave Chopad Levels of 8387, Nifty gave Long entry on Monday made low of 8407 rewarded risky Chopad Followers as market did not touch the chopad levels handsomely rewarding them with 3 targets.Lets analyze how to trade in coming week with earning season in major swing
Nifty Hourly Chart
Hourly Chart resistance at 8649 and support at 8500.
As discussed in last analysis Low made 7927, Now if we continue to close above 7927 we can see move towards 8500. 100% target done
Holding 8434/8450 range nifty can see upmove till 8705 as per ABCD harmonic pattern.
Nifty Gann Angles
Self Explanatory Gann Angle chart,Resisting near gann angles before the next move. Bulls needs close above 8577 and bears below 8434 for next move .
Nifty Supply and Demand
Now Bulls need to close above 8544 on Weekly close basis for a target of 8654/8774. Bears will get active below 8295 only.
Nifty Gann Date
Nifty As per time analysis 18/22 July is Gann Turn date , except a impulsive around this dates.
For Nifty traders who follow gap trading there are 8 trade gaps in the range of 7000-9000, rest all gaps were filled in the last week fall.
Nifty Weekly Chart
It was positive week, with the Nifty up by 218 points closing @8541.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 and can play next move towards 8900 as per weekly channel.
Trading Monthly charts
4 Months of Higher close, BUlls should hold 8434 for market to scale up.
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:8577
Nifty Resistance :8621,8701 ,8760
Nifty Support :8500,8434,8350
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.
Want to see post in your Inbox,Register by adding your email id in Post in your Inbox section
Follow on Facebook during Market Hours: https://www.facebook.com/pages/Brameshs-Tech/140117182685863
Follow on Twitter during Market Hours: https://twitter.com/brahmesh