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 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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