Last Week we gave Chopad Levels of 10355, Nifty gave Short Entry as per Chopad Level Monday rewarded Chopad Followers as it did 3 Targets on Downside, so Great week for Chopad followers. Lets see How to trade Nifty in week as we approach the crucial trend change date of 22 Nov.
As discussed in last analysis Now range of 10240-60 is important if held we are heading towards the target of ABCD pattern of 10560.
BUlls were able to make weekly close above 10250, Keeping the target intact for 10560.
Nifty Gann Angles
Trading in between gann angles on Weekly Time Frame, On Daily time frame we did price and time squaring saw a big move of 250 points in 2 days.
Nifty Supply and Demand
Self Explanatory chart..
Nifty Time Analysis Pressure Dates
Nifty As per time analysis 22 Nov is Pressure date , impulsive move can be seen around these dates.
Nifty Weekly Chart
It was negative week, with the Nifty down by 28 points closing @10284 As discussed in last analysis Coming week till nifty is holding 10260 we are heading towards 10450/10500/10560.Bearish below 10240 for a move towards 10123.
Bearish target done of 10123, Now for coming week Bulls need to hold 10250 for the next move towards 10350/10410/10490. Bearish below 10220 for a move towards 10100/10000. 22 Nov is very important trend change date.
Trading Monthly charts
10100 is playing an important resistance zone on Monthly chart, Nifty finally closed above it now we need monthly closing above 10300 for next move towards 10576-10600.November is crucial month for trend change.
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:10300
Nifty Resistance :10350,10410,10480
Nifty Support :10240,10170,10100
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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