Last Week we gave Chopad Levels of 8156, Nifty gave Short Entry on Monday but got stopped at Closing and Longs were triggred which were rewarded as Nifty did the 1 target of 8301 High made was 8306 thus rewarding Chopad Followers. Nifty was not able to close below 8156 Chopad Levels throughout the week. Lets Analyze How to trade Nifty in coming week as Result Season will start with Infosys and TCS results in coming week.
Nifty Hourly Chart
As discussed in last analysis Now for coming week 8250 range should be seen very closely, above this move towards 8336/8450/8555. Unable to do so move back towards 8000/7900.
High made was 8306 Nifty failed to do target of 8336 and closed below 8250. Coming week again 8250 will play crucial role close above it 8330/8370. Below it again a downmove till 8200/8100.
NO Harmonic pattern was observed for coming week.
Nifty Gann Angles
As discussed in last analysis Low made was 7894 so Bulls held on to 7900 and gave good bounce but still not of woods as move above 8250 should be done for a move towards 8336/8450. Bearish on close below 8100 for a move towards 8000/7900.
Last Week Low made near the gann angle as shown in above chart, Coming week again 8250 will play crucial role close above it 8330/8370. Below it again a downmove till 8200/8100.
Nifty Supply and Demand
As discussed in last analysis Coming week bulls should protect 8095-8100 range else again downmove above 8000/7916. Bullish only on close above 8250.
Bulls made low of 8133 and rallied all the way till 8306 but failed to close above 8288 and 8250. Coming week again 8250 will play crucial role close above it 8330/8370. Below it again a downmove till 8200/8100.
Nifty Gann Date
Nifty As per time analysis 10/13 Jan is Gann Turn date , impulsive move can be seen around these dates.
Nifty Weekly Chart
It was positive week, with the Nifty up by 58 points closing @8243 forming Doji pattern, facing resistance at the upper end of channel. We have another time cycle starting from 10 Jan-25 Jan . Last Cycle started from 14 Dec Nifty made a top of 8229 and corrected all the way till 7893.
Trading Monthly charts
Trading below 8250 bears will have upperhand for rest of trading month.
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:8256
Nifty Resistance :8310,8375,8432
Nifty Support :8200,8140,8055
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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