Last Week we gave Chopad Levels of 8577, Nifty gave Short entry on Monday made low of 8494 near our target of 8500, again gave opportunity on Thursday as High made was 8585 and again did the 1 target of 8500 on Friday. Last Week Chopad Level of 8577 was major hurdle for bulls. Lets analyze Will Bulls will be able to break the wall of 8577 in coming Expiry Week.
Nifty Hourly Chart
As discussed in last Analysis Hourly Chart resistance at 8649 and support at 8500. Nifty found multiple support at 180 degree as shown above.
Same Support and Resistance remains the same for coming week.
Holding 8480/8490 range nifty can see upmove till 8667/8737 as per Deep Crab 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 28 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 negative week, with the Nifty down by 0.2 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 :8645,8701 ,8760
Nifty Support :8500,8430,8370
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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