Last Week we gave Chopad level of 10640 Nifty gave long entry and gave 2 Target on upside Low made was 10635 so an excellent week for chopad followers. Also 07 May nifty made low and rallied for the whole week. Lets see how we trade nifty in coming week,as we have Karnataka Election results and Important Astrological date on 16 May.
Bulls need to hold 10820 for upmove to continue towards 10920/11000
Nifty Gann Angles
Nifty Supply and Demand
Self Explanatory chart..
Nifty Time Analysis Pressure Dates
Nifty As per time analysis 16/18 May is Pressure date , impulsive move can be seen around these dates.
Nifty Weekly Chart
It was positive week, with the Nifty up by 188 points closing @10806 .As discussed in last analysis For coming week as 06 May is important trend change effect will be seen on Monday, Bullish above 10640 for a move back to 10700/10777/10830. Bearish below 10610 for a move back to 10555/10480.
Low made was 10635 and high made was 10816.Now bulls need a close above 10820 for a move towards 10930/11000. Bearish below 10777 for a move back to 10700/10630.
Trading Monthly charts
Bulls will get upperhand above 10785 for May Series.
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:10820
Nifty Resistance :10888,10944,11025
Nifty Support :10760,10690,10620
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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