Nifty at lifehigh, Weekly forecast

Last Week we gave Chopad level of 7246, Nifty did 3 target on upside with a closing a record highs and breaking the 16 May high of 7564 also. Progress of monsoon rains .IIP and CPI which will be unveiled on 12 June.  Lets analyze how to trade Nifty next week


Nifty Elliot Wave Analysis

Nifty Hourly EW

This is what we discussed last week , As per EW analysis it shows short term correction is over till 7172 is not broken and bounce back till 7600  is on cards.  As per Elliot wave Theory 7629-7650 can be seen than we can see a short term pullback.

Nifty Daily Chart

nifty daily

As per Gann wedge the current rally can go on till 7700-7720 next week, same view are shown by Elliot wave as shown in below chart.


NIfty Daily EW

 Nifty Gaps

For Nifty traders who follow gap trading there are 7 trade gaps in the range of  5300-6400

  • 5285-5303
  • 5448-5553
  • 5680-5700
  • 5780-5802
  • 6091-6108
  • 6328-6339
  • 6401-6413
  • 6493-6510
  • 6641-6643
  • 7067-7014
  • 7130-7121
  • 7276-7293
  • 7229-7239
  • 7474-7497

Fibonacci technique

Fibonacci fan

nifty ff

As per Gann Fans  using gann circle Nifty will be bullish above 7636 for initail target of 7720.On Downside strong support in range of 7474-7450 which should be used to go long and book out shorts.


Nifty Weekly Chart

Nifty Weekly Andrew Pitchfork

It was positive week, with the Nifty up by 353 points  closing @7583 . As per Andrew Pitchfork nifty is near its median line and unable to close above it pullback will start in market. Weekly charts are still in positive quadrant as shown in below chart.

Nifty Weekly Timeline

Trading Monthly charts

nifty monthly

Monthly chart gives a target of  7800  for short term as per Fibo ratio theory

 Nifty Weekly Trading Levels

Nifty Trend Deciding Level:7636

Nifty Resistance:7704,7766,7825

Nifty Support:7555,7474 and 7400

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

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8 thoughts on “Nifty at lifehigh, Weekly forecast”

  1. I post my analysis, Few people trade on Astro few on TA. So you take what you like ignore the rest.


  2. Dear Girish,

    Views are shared here only, I do not send personalized view to anyone.


  3. question arise whether they make it to 8K this month before budget for next sell off,quite interesting levels on nifty ,lets see whether it corrects before 12th june or go directly for 7700+ levels.

  4. Bramesh ji,

    One question… PM Swearing Ceremony done…and also expiry…so why repeated that again here? #JustWondering

  5. When you put this views of yous vy the side of the astrd dates that you had posted yesterday, how do you see this playing out/

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