Last Week we gave Chopad Levels of 8840, Nifty gave Long Entry on Monday and did 2 target on Upside. Lets Analyze how to trade Nifty as we start the new time cycle from 27 Feb-07 march.
Nifty Hourly Chart
Hourly chart keep bouncing from the channel bottom and fall from channel top happened in 2 instances in last 2 weeks as shown in above chart ,Now Bulls need a close above 9000 for a move towards 9050/9120/9200, Bears will get active below 8850 for a move towards 8800/8720.
As discussed in last analysis Now coming week Holding 8750 next move towards 8975.
High made 8982 so target done,Coming week holding 8850 nifty target come towards 9095.
Nifty Gann Angles
As discussed in last analysis As per gann angle current move can extend towards 8957/9119 as soon as 8840 is broken.
8957 done now coming towards 9120/9220/9300 as per gann angles in next 3-4 weeks.
Nifty Supply and Demand
As discussed in last analysis Bulls finally closed above 8773 opening the way towards 8969/9119. Bulls need weekly close above 8840 for this happen.
8969 done now waiting for 9119, 8773 played very crucial role in last 2 weeks.
Nifty Gann Date
Nifty As per time analysis 27 Feb/03 March is Gann Turn date , impulsive move can be seen around these dates.
Nifty Weekly Chart
It was positive week, with the Nifty up by 117 points closing @8939 bouncing from support at the lower end of channel from last 2 weeks and closing well above it as shown in above chart . As discussed in last analysis 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
Last cycle turned out to be another bullish cycle, We are starting new time cycle from 27 Feb-07 March with traders should look at 8850 on downside for a bearish move and 8980 on upside for bullish move.
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:8936
Nifty Resistance :9001,9080,9150
Nifty Support :8878,8830,8750
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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