Last Week we gave Chopad level of 10820 Nifty gave Short entry on 14 May and it got stopped out, Long taken on 15 May and gave 2 Target on upside Low made was 10589 so an excellent week for chopad followers. Lets see how we trade nifty in coming week,as we have Karnataka Political uncertainty over and Important Astrological date on 22 May.
Bears can fall towards 10420/10321 till we close below 10666.
Nifty Gann Angles
As discussed in last analysis Now bulls need close above 10820 for a upmove towards 10900/11000.
10900 done also we also reacted from gann angle resistance. Now till we do not close above 10920 bears can break index towards 10512/10410/10360/10270/10212.
Planetary Cycles and Nifty Movements
10500-512 is important support zone closing below 10500 can see fall towards 10410/10360/10270/10212.
Nifty Supply and Demand
Self Explanatory chart..
Nifty Time Analysis Pressure Dates
Nifty As per time analysis 22/25 May is Pressure date , impulsive move can be seen around these dates.
Nifty Weekly Chart
It was negative week, with the Nifty down by 210 points closing @10596 .As discussed in last analysis Now bulls need a close above 10820 for a move towards 10930/11000. Bearish below 10777 for a move back to 10700/10630.
High made 10929 so we got the expected move above 10820 and also once 10777 gone got the expected move on downside.Now bear need to break 10555 for the move to continue towards 10512/10461/10410. Bullish above 10666 for a move back to 10720/10777.
Trading Monthly charts
As discussed in last analysis Bulls will get upperhand above 10785 for May Series.
10785 gone and bears pushed index down by 200 points.
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:10555
Nifty Support :10480,10410,10360
Nifty Resistance :10610,10666,10720
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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