Nifty Weekly Forecast for Feb Expiry

By | February 19, 2017

Last Week we gave Chopad Levels  of 8840, Nifty gave Short Entry  on Friday  but no target was achieved. Another Week of consolidation after a massive rally of 1000 points in less than 2 months. Lets Analyze how to trade Nifty in the expiry week.

Nifty Hourly Chart

Hourly chart keep bouncing from the channel bottom as happened in 2 instances in last 2 weeks as shown in above chart ,Now Bulls need a close above 8840 for a move towards 8888/8969/9100.

Nifty Harmonic

As discussed in last analysis ABCD harmonic pattern is formed on Daily chart with target of 8882.

High made 8894 so target done, Now coming week Holding 8750 next move towards 8975.

Nifty Gann Angles

As per gann angle current move can  extend towards  8957/9119 as soon as 8840 is broken.

Nifty Supply and Demand

Bulls finally closed above 8773 opening the way towards 8969/9119. Bulls need weekly close above 8840 for this happen.

Nifty Gann Date

Nifty As per time analysis 20/23 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 28 points  closing @8822 bouncing from support at the lower end of  channel and closing  as shown in above chart . Nifty has closed above the Weekly resistance  8775 as per AF chart and above it rally till 8969/9200. Bearish below 8700 for a move till 8600/8555. We have new time cycle starting from 13 Feb-24 Feb With important trend change date being 13/15/20 Feb

As discussed in last analysis  Till 8720 is held bulls will have upper hand. Low made 8712 and rally till 8894 in 2days

Trading Monthly charts

Monthly chart should hold 8295 for Bulls to rule in next 6 months. Till 8295 Held on Monthly chart Bullish move to continue.

Nifty Weekly Chopad Levels

Nifty Trend Deciding Level:8840

Nifty Resistance :8900,8970,9090

Nifty Support :8763,8690,8620

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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