Last Week we gave Chopad Levels of 8777, Nifty gave Long Entry on Monday and did 1 target on Upside, Shorts also got triggred below 8778 on Tuesday which were rewarded on RBI day when Nifty made low of 8715 near target of 8710. A Perfect week which consolidated last 2 week gain, Coming week is very crucial we are approaching confluence of date in between 13-15 Feb which can show some fast move.
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.
ABCD harmonic pattern is formed on Daily chart with target of 8882.
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 13/15 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 52 points closing @8792 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. 27 Jan -10 Feb Time Cycle again ended on BUllish note.
We have new time cycle starting from 13 Feb-24 Feb With important trend change date being 13/15/20 Feb
Till 8720 is held bulls will have upperhand.
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 :8888,8945,9000
Nifty Support :8777,8690,8620
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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