Last Week we gave Chopad Levels of 10471, Nifty gave Long Entry as per Chopad Level Monday but was stopped out, Short Entry on Monday rewarded Chopad Followers as it did 3 Targets on Downside, Fall started on the trend change date of 07 November and price level of 10471 so Great week for Chopad followers. Lets see How to trade Nifty in week.
As discussed in last analysis Till we are holding 10350 bulls can rally all the way towards 10530-560 to complete the pattern.
10350 was broken and closed above it, Now range of 10240-60 is important if held we are heading towards the target of ABCD pattern of 10560.
Nifty Gann Angles
As discussed in last analysis 10410 also done and heading towards the higher end of gann angle towards 10530-560.
High made was 10490 till we are holding 10240 we can head towards the higher end of gann angle @10540-560. Clean move captured from from low to high as discussed in above chart.
Nifty Supply and Demand
Self Explanatory chart..
Nifty Time Analysis Pressure Dates
Nifty As per time analysis 14/15 Nov is Pressure date , impulsive move can be seen around these dates.
Nifty Weekly Chart
It was negative week, with the Nifty down by 130 points closing @10321 As discussed in last analysis 10461 was the high made, Now waiting for 10520. Bulls now need to hold 10400 for the move towards 10600 when resistance lies. Next week 07 Nov is important time cycle date.
Nifty turned from 07 Nov and we saw decline of almost 200 points, Coming week till nifty is holding 10260 we are heading towards 10450/10500/10560.Bearish below 10240 for a move towards 10123.
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:10355
Nifty Resistance :10410,10460,10525
Nifty Support :10300,10230,10170
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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