How to trade Nifty in US Presidential Election Week

By | November 6, 2016

Last Week we gave Chopad Levels  of 8650, Nifty gave short entry on Tuesday  which did 3 target on downside,  Thus rewarding the disciplined Chopad followers in new samvat.  Lets analyze how to trade nifty in coming week as finally the overhang of US election will be over by Wednesday and nifty closing at very crucial number of 8434 signifying 500 point trending move is round the corner.

Nifty Hourly Chart

nifty-hourly

As discussed in last analysis   Coming week 8650-8660 is crucial zone, closing above it move towards 8737/8800 and below it move towards 8550/8448.

High made was 8670 and below 8650 nifty did the target of 8448. Coming Week 8434 will play crucial role below this market will touch 8287/8130, Above 8450 nifty will go towards 8568/8700.

Nifty Harmonic

As discussed in last analysis Any close above 8737 will made a move towards 8852 for this pattern to be valid 8532 should be held.

Shark pattern got invalidated as 8532 was broken, coming week 8364 is crucial holding the same market can move up higher towards 8700. Break of 8363 BAT pattern not shown below nifty can move towards 8287/8182.

butterfly-nifty

Nifty Gann Angles

gann-angles

Nifty continue to trade in 2 gann angles breakout is offing.

Nifty Supply and Demand

supply-demand_weekly

As discussed in last analysis  8737-8773 is line of resistance for bulls and 8444 is downside support

Bears closed below 8444 now breaking 8400 fast move towards 8295.

Nifty Gann Date

Nifty As per time analysis 07/11 Nov  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
  • 8323-8407
  • 8607-8642

Nifty Weekly Chart

weekly-channel

 It was negative week, with the Nifty down by 204 points  closing @8434 formed bearish engulfing candlestick pattern again closing below its weekly trendline as shown in above chart .

As discussed in last analysis  Now for coming week 8650-8660 is crucial range above it 8737/8800 below it 8500.Next week is very important as Gann Time Cycle.

High made was 8678 and below 8660 market did the target of 8500 and move lower 8400. As we have been disusing last week was crucial gann week and the effect were shown as nifty corrected 200 points in clear trending move. Unable to close above 8434 next week can see nifty correcting all the way towards 8100. Closing above 8434 can see fast move towards 8650.

Trading Monthly charts

nifty-monthly

As per monthly chart traders should watch for 8450 level in any correction holding 8450 is very important for the current uptrend from 6825. Finally 8450 is broken as monthly closing is far bulls have chance to hold on to 8450.

Nifty Weekly Chopad Levels

Nifty Trend Deciding Level:8448

Nifty Resistance :8505,8580 ,8678

Nifty Support :8330,8233,8130

 

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

3 thoughts on “How to trade Nifty in US Presidential Election Week

  1. soniya

    sir any article on how to trade using CHOPAD LEVEL…plz give the link..

  2. Rashid

    Sir, what about buying nifty future and option put ( equal to delta 1) on monday and wait for 2 days. If big move comes in either direction, will it be good.

Leave a Reply