Nifty Weekly Forecast for 02-05 May

By | May 1, 2017

Last Week we gave Chopad Levels  of 9140, Nifty made low of 9130 and gave a trending move doing all 3 target by Wednesday,  thus rewarding disciplined Chopad  Traders. Lets see how to trade in coming week as we approach the crucial trading month MAY

Nifty Hourly Chart

As discussed in last analysis   Coming week 9071 will play crucial role holding the same move towards 9212/9268. Bearish below 9070 for a move till 8998.

Low made was 9130 and zoomed to touch 9368, Coming week 9274 will play crucial role holding the same move back to 9368/9424/9468. Bearish below 9274 for move till 9220/9170/9120.

Nifty Harmonic

As discussed in last analysis Holding 9060-9070 range another upmove towards 9160/9268.

Shark pattern did its target now Alternate ABCD in forming holding 9274 rally towards 9463.

Nifty Gann Angles

As discussed in last analysis Bulls should hold  9100-9130 range  for a the move towards 9312/9468.

9312 done waiting for 9468

Nifty Supply and Demand

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

Bulls run continues bulls should hold 9083 now.

Nifty Gann Date

Nifty As per time analysis 02/07 May  is Gann Turn date , impulsive move can be seen around these dates.

Nifty Weekly Chart

It was positive week, with the Nifty up by 176 points  closing @9305 and continue to close above the next quadrant as in above chart and closing above 9200. Holding above 9274  we can see move towards 9368/9463. As discussed in last analysis New Time Cycle has started on a volatile note giving wild swing in small range, 24 April is end of cycle and Bulls need to hold 9100 on closing basis for continued uptrend. 26 April very important trend change date.

What a trending move in from Monday to Wednesday and 9368 High made exactly on 26 April, Beauty of time cycle. Now for coming week 02 May is very crucial and expect at 150/200 points move on break of 9368/9274.

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:9326

Nifty Resistance :9400,9468,9550

Nifty Support :9270,9180,9100

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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