Last Week we gave Chopad Levels of 10355, Nifty gave Long Entry as per Chopad Level Monday but was stopped out, Short Entry on Tuesday was stopped out Longs were triggered on gap up Open and did 2Targets on upside, so so-so week for Chopad followers. Lets see How to trade Nifty in week as we are near an important price level of 10471 and time cycle turn date of 07-08 Nov
As discussed in last analysis Low made was 10124 and rallied towards 10366 and now waiting for 10410 to come. SO ABCD pattern not invalidated and 10360 done now till 10240 is held we can see rally till 10530-10560.
High made 10461 till we are holding 10350 bulls can rally all the way towards 10530-560 to complete the pattern.
Nifty Gann Angles
As discussed in last analysis Low made was 10124 and rallied towards 10366 and now waiting for 10410 to come.
10410 also done and heading towards the higher end of gann angle towards 10530-560. 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 07/10 Nov is Pressure date , impulsive move can be seen around these dates.
Nifty Weekly Chart
It was positive week, with the Nifty up by 127 points closing @10450 As discussed in last analysis Nifty made low on 19 Oct and rallied all the way 10355 doing our target. Now for coming week till we are holding 10301 bulls can rally till 10420/10464/10520. Bearish below 10240 for a move till 10150/10090.
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.
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:10471
Nifty Resistance :10510,10564,10640
Nifty Support :10410,10360,10300
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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