Nifty Weekly Forecast ahead of Gujarat elections

By | December 10, 2017

Last Week we gave Chopad Levels  of 10100,  Nifty gave Long Entry as per Chopad Level on Monday   but was stopped out , Short on Wednesday were also stopped out and Long take on Thursday rewarded Chopad Followers as it did 2 Targets on Upside so average week for Chopad followers. Lets see How to trade  Nifty in coming week as we approach the important time cycle date of 12 Dec.

 

Nifty Harmonic

 

We are forming a bullish ABCD pattern with PRZ zone coming around 10770, Bulls need to close above 10300 for a move towards for 10490/10600/10770.

Nifty Gann Angles

Trading in between gann angles on Weekly Time Frame,

Nifty Supply and Demand

Self Explanatory chart..

Nifty Time Analysis Pressure Dates

Nifty As per time analysis 12/14 Dec is Pressure date , impulsive move can be seen around these dates.

Nifty Weekly Chart

It was positive week, with the Nifty up by 143 points  closing @10266   As discussed in last analysis Now for coming ween 03 Dec is important trend change date and range of 10080-10090 is important support zone, Holding above it we can see rally back till 10300/10450.  Break of 10060 fall till 10000/9930.

Nifty broken 10090 failed to do lower target, but as soon 10090 was broken bulls were on rampage and did high of 10270 almost doing for 10300. Coming week we have confluence of time cycle in between 12-14 Dec, so expect another volatile week on cards. Bulls need a close above 10292  for a move towards 10410/10490.  Bears will get active only below 10250 for a move towards 10090/9985/9930.

Trading Monthly charts

Nifty had formed the first lower low in 12 months but we need a close below it, any close above 10300 will nullify the downmove.

Nifty Weekly Chopad Levels

Nifty Trend Deciding Level:10292

Nifty Resistance :10340,10427,10530

Nifty Support :10220,10170,10085

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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