Nifty Weekly Forecast for 17-21 April

By | April 16, 2017

Last Week we gave Chopad Levels  of 9221, It was a dicey week of trading, Nifty gave Short entry on Monday but failed to do target of 9150 low made was 9172 and triggering SL of Tuesday, But finally disciplined Chopad  Traders were rewarded again as Shorts  Taken on Wednesday did the 1 target of 9150 on Thursday.Lets see how to trade in coming week as we approach the new time cycle.

Nifty Hourly Chart

As discussed in last analysis   Now for coming week 9149-9140 is important support zone holding the same can see move back towards 9268/9312/9368. Bearish below 9130 for a move back till 9020/8969.

Nifty did the bounce as we were expecting and closed again at 9150.  Bulls need to again hold 9113-9130 for  move towards 9268/9312/9368. Bearish below 9100 for a move towards 9020/8969.

Nifty Harmonic

Nifty bulls made high of 9274 unable to do target of 9312 for completion of extended abcd pattern. Bears can push nifty towards 8986 if we close below 9100.

Nifty Gann Angles

Bulls should hold  9130 for a the move towards 9312/9468.

Nifty Supply and Demand

Bulls should now hold 9071 in correction  for march towards 9312/9468. Below 9070 for a move towards 9020/8960.

Nifty Gann Date

Nifty As per time analysis 17/20 April  is Gann Turn date , impulsive move can be seen around these dates.

Nifty Weekly Chart

It was negative week, with the Nifty down by 48 points  closing @9150 and continue to close above the next quadrant as in above chart and closing above 9100. Holding above 9149 we can see move towards 9300/9500. New Time Cycle has started from 15-24 April. Bulls should protect 9113 for a move towards new high and bears should break 9070 for a move towards 8992/8920.

Trading Monthly charts

Bulls need to hold 8992 on Monthly closing basis for next move towards 9600/10200 in next 6 months.

Nifty Weekly Chopad Levels

Nifty Trend Deciding Level:9113

Nifty Resistance :9180,9268,9336

Nifty Support :9080,9020,8960

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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