Nifty Weekly Forecast for Budget 2017

By | January 29, 2017

Last Week we gave Chopad Levels  of 8335, Nifty gave Long Entry on Monday as low made was 8327 and did all target by Wednesday thus rewarding disciplined Chopad followers. Nifty Time cycle which started on 10 Jan till 25 Jan gave 351 points move. Now we have new time cycle which started from 27 Jan and will end till 10 Feb. Traders should watch for break of 8490 for bearish move and till 8612 is held Bullish move will continue. Lets Analyze How to trade Nifty in coming week as we have Union Budget on 01 Feb.

Below links will help you in planning traders for Budget day

Historical Nifty Movement on Budget Day

Historical Bank Nifty Movement on Budget Day

Option Trading Strategy for Union Budget 2017

Nifty Hourly Chart

Hourly chart bounced from 8328 did not did target of 8300 now bulls need close above 8675 for a move towards 8775/8969. Bearish only below 8460.

 

Nifty Harmonic

No Harmonic pattern was seen for coming week, Nifty made low of 8328 near target of cypher pattern and rallied as soon as 8462 was broken.

Nifty Gann Angles

As per gann angle current move can move till 8775 and close above 8775 move towards 8969/9119.

Bearish below 8432 only.

Nifty Supply and Demand

Bulls need a close above 8775 for a move till 8969 and above that 9119. Bearish only below 8432 for move till 8200

Nifty Gann Date

Nifty As per time analysis 31 Jan/02 Feb  is Gann Turn date , impulsive move can be seen around these dates.

Nifty Weekly Chart

 It was positive week, with the Nifty up by 291 points  closing @8641 bouncing from support at the lower end of  channel as shown in above chart .Weekly resistance comes at 8775 as per AF chart and above it rally till 8969.  As discussed in last analysis As new time cycle is coming so expect good move in market in next 2 weeks.

Time Cycle again helped us in capturing the move. Now we have new time cycle which started from 27 Jan and will end till 10 Feb. Traders should watch for break of 8490 for bearish move and till 8612 is held Bullish move will continue.

Trading Monthly charts

Monthly chart should hold 8295 for Bulls to rule in next 6 months.

Nifty Weekly Chopad Levels

Nifty Trend Deciding Level:8675

Nifty Resistance :8773,8855,8969

Nifty Support :8600,8510,8421

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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