Nifty Weekly Forecast for Union Budget 2018

By | January 28, 2018

Last Week we gave Chopad Levels  of 10890,  Nifty gave Long Entry as per Chopad Level on Monday  rewarded  did 2 Targets on upside, Awesome week for Chopad followers. Nifty for the whole week did not close below chopad level of 10890.Lets see How to trade  Nifty in coming week as we come near confluence of time cycle 29-31 Jan ,Union budget on Thursday.

Historical Nifty Movement on Budget Day

Historical Bank Nifty Movement on Budget Day

Option Trading Strategy for Union Budget 2018

 

Nifty Harmonic

 

Bullish Harmonic pattern target done @11053 as we have been discussing, now waiting for extended target of 11332

Nifty Gann Angles

We were able to capture an awesome some w.r.t to gann angle, Any close above 10996 can see fast move towards 11200-11557.

Nifty Supply and Demand

Self Explanatory chart..

Nifty Time Analysis Pressure Dates

Nifty As per time analysis 29/31 Jan is Pressure date , impulsive move can be seen around these dates.

Nifty Weekly Chart

It was positive week, with the Nifty up by 174 points  closing @11069. As discussed in last analysis  For coming week we need to hold 10800-14 range, for the up move to continue towards 10996-11053. 22 Jan -25 Jan are important time cycle dates for coming week, Any close below 10793 can see fast move 10720-10666.

11053 done, Now Bulls need a close above 11100 for a move towards 11232/11376/11520. Bearish below 10992 for a move towards 10830/10770.

Trading Monthly charts

As discussed in last analysis Nifty Bulls held to 10300 on Monthly and Yearly closing basis. 10300 will play crucial role in Jan month.We are up 800 points from 10300 level and Jan had been good month for Bull 🙂

Bulls need a monthly close above 11100 for a move towards 11520/11880

Nifty Weekly Chopad Levels

Nifty Trend Deciding Level:11111

Nifty Resistance :11159,11240,11322,11415

Nifty Support :11009,10930,10791,10700

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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