Nifty does 8336,Will Up move continue ,Weekly Forecast

Last Week we gave Chopad Levels  of 8111, Nifty gave Long/Short  entry on Monday which gave whipsaw but Long entry on Tuesday rewarded Chopad Followers handsomely rewarding them with all 3 targets.Lets analyze how to trade in coming week.


Nifty Hourly Chart

NIFTY - Pyrapoint

Hourly Chart resistance at 8356/8410 and above than can see fast move towards 8495. Support @8210.

Nifty Harmonic

Nifty Harmonic

As discussed in last analysis Low made 7927, Now if we continue to close above 7927 we can see move towards 8500.

Half of the target done.

Nifty Gann Angles

gann angles

Self Explanatory Gann Angle chart now facing resistance at gann angle, Unable to close above it can see fall till 8210.

Nifty Supply and Demand

Supply Demand_Weekly

8336 done as discussed in last analysis Next move towards 8336 holding 7921.

Close above 8336 required for next move 8545.

Nifty Gann Date

Nifty As per time analysis 04 July  is Gann Turn date , except a impulsive around this dates.

Nifty Gaps

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.

  • 7222-7308
  • 7368-7406
  • 7748-7809
  • 7934-7948
  • 8127-8157
  • 8204-8242
  • 8287-8308
  • 8937-8891

Nifty Weekly Chart

NIFTY - Weekly Trendline

It was positive week, with the Nifty up by 240 points  closing @8329.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

4 Months of Higher close, BUlls should hold 7927 for market to scale up.

Nifty Weekly Chopad Levels

Nifty Trend Deciding Level:8370

Nifty Resistance :8416,8465 ,8530

Nifty Support :8325,8260,8180


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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One Comment

  1. V. RAMESH said:

    As per Elliot Wave analysis, Nifty will go up and break 9116. So every dip has to be bought since it is highly bullish. Wait for dip to buy.

    July 3, 2016

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