Nifty Weekly Analysis ahead of Gujarat Election

By | December 17, 2017

Last Week we gave Chopad Levels  of 10292,  Nifty gave Long Entry as per Chopad Level on Monday   but was stopped out , Short on Tuesday rewarded Chopad Followers as it did 2 Targets on Upside so Good week for Chopad followers. Top made for the week was exactly on Time Cycle Turn date of 12 Dec .Lets see How to trade  Nifty in coming week as we approach the important time cycle date of 22 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 20/22 Dec is Pressure date , impulsive move can be seen around these dates.

Nifty Weekly Chart

It was positive week, with the Nifty up by 67 points  closing @10333   As discussed in last analysis 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.

Top was made on 12 Dec and we saw a decline of 188 points and Bottom was made on 14 Dec and we saw a rally of 100 points. Power of time cycle. Coming week 20/22 Dec is important time cycle turn date. Bulls need a close above 10410 for a breakout for a move towards 10525/10600. Bearish below 10270 for a move towards 10190/10090/10000.

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. Still Holding 10300 for 2 week.

Nifty Weekly Chopad Levels

Nifty Trend Deciding Level:10380

Nifty Resistance :10432,10501,10571

Nifty Support :10300,10220,10100

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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