Last Week we gave Chopad Levels of 8910, Nifty opened with gap down, hence not giving any opportunity to enter trade, Longs got triggred on Friday but did not achieved the target, Shorts triggered on Friday below 8820 did the first target of 8760. Lets analyze how to trade nifty in coming week. We salute all those martyred in Uri. Their service to the nation will always be remembered. Our thoughts are with the bereaved families.
Nifty Hourly Chart
Nifty is again forming a triangle pattern which is 253 point range, Bulls will get active above 8870 for traget of 9000/9100. Bears below 8688 can push nifty down till 8476/8500.
Unable to close above 8850 Nifty can see correction till 8600 as per Gartley pattern.
Nifty Gann Angles
Price and time square can happen if we come towards 8760-8780 range in coming week, which will lead towards another big move of 200-300 points. Coming week very crucial as per gann analysis.
Nifty Supply and Demand
Now for coming weeks bulls should hold 8774 for a move towards all time high of 9119. Bears below 8728 can move towards 8540.
Nifty Gann Date
Nifty As per time analysis 19/23 Sep 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 86 points closing @8779 unable to do the follow up of gravestone DOJI pattern formed last week, but we are not still out of woods. Bulls need close above 8850-8870 range and above 8970 to nullify the effect of bearish setup. Bears will get active on close below 8700 for target of 8620/8577.As per time analysis expect trending move in coming week.
Trading Monthly charts
6 Months of Higher close, Bulls should hold 8670 on Monthly basis for next target of 9120
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:8777
Nifty Resistance :8855,8930 ,9001
Nifty Support :8700,8620,8540
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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