Nifty Weekly Forecast for RBI Policy Week

By | October 2, 2017

Last Week we gave Chopad Levels  of 9930,  Nifty gave Entry as per Chopad Level Monday and Wednesday Discipline Chopad Followers were rewarded handsomely as Nifty  did all 3 target on downside as confluence of time cycle coming in 25-26 Sep showed its effect, So overall good week for chopad followers.  Lets see How to trade Nifty in coming week as we approach the trade set up with RBI Policy on 04 Dec which is also a Crucial Trend change date. Hope readers are getting benefited with the time cycle analysis.

 

Nifty Harmonic

 

As discussed in last analysis 10150 done but once the PRZ zone was broken fast fall started and we can now move towards 9800 once we start trading below 9930.

9875 is PRZ zone, close above it we can see rally towards 9930/10030.

Nifty Gann Angles

As discussed in last analysis Now once 9930 was broken nifty can head towards 9700 till 10100 is not broken on upside.

Nifty made exact stop at gann angle before bouncing back, Now bearish below 9685 only if held rally back till 9930/10090/10170/10236.

Nifty Supply and Demand

Self Explanatory chart..

Nifty Time Analysis Pressure Dates

Nifty As per time analysis 04/06 Oct is Gann Turn date , impulsive move can be seen around these dates.

Nifty Weekly Chart

It was negative week, with the Nifty down by 175 points  closing @9788. As discussed in last analysis  Bulls need to close above 10100 for a move towards 10250/10380/10550. Bearish below 10030 for a move towards 9950/9850/9700.  Now the date of 23-26 Sep are very important as per time analysis and we can see the trend change in market around these date. Time Analysis gives an additional edge in trading, now for coming week there are different time cycle confluence on 25-26 Sep so trade cautiously around these date. Bearish below 9930 for a move towards 9865/9801/9742. Bullish above 10100 for a move towards 10171/10236.

All Bearish target done, Now till 9770  is held bulls can move towards 9930-9950 which is major resistance zone.  Bullish above that for a new high towards 10236. Bearish below 9750 for a move till 9685/9610/9448.  04 Oct which is RBI day is also a Time cycle date so expect a bombastic move.

Trading Monthly charts

10100 is playing an important resistance zone on Monthly chart, as nifty is unable to give a Monthly closing above it.

Nifty Weekly Chopad Levels

Nifty Trend Deciding Level:9846

Nifty Resistance :9915,9995,10055

Nifty Support :9800,9730,9680

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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4 thoughts on “Nifty Weekly Forecast for RBI Policy Week

  1. Bramesh Post author

    9857 is PRZ zone above which pattern become invalid..

  2. Bramesh Post author

    21 points for nifty 55 points bank nifty sl 2 time triggered in a day stop trading..

    first back test with previous chopad by making your own risk management rules than paper trade for 1-2 months and if comfortable take live trades..

  3. sandeep

    sir if we take trade as per ur chopad levels what should be our SL dor that in nifty and bank nifty respectively. ?? Also if our SL hits how many times should we re-attempt the trade on that day.

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