Last week we gave Nifty Chopad level of 8416 Nifty continued with its upward journey and make new life highs. Reserve Bank of India is scheduled to release the current account deficit (CAD) numbers for Q2 September 2014 on Monday, 24 November 2014, also Winter session will start . We have the expiry week so expect volatile moves.
Nifty Hourly Chart
Nifty Hourly charts has meet its trendline resistance @ 8490,Breaking the same we can see another round upmove till 8546/8597.
Nifty EW Chart
EW on Hourly chart is shown above Break of 8506/8511 should be seen for correction of 50/75 points.
Nifty Daily Chart
Nifty daily chart with Vortex Indicator is shown above, Negative divergence is shown in Daily chart, Till 8350 is not broken negative divergence will not show its effect. Trendline confluence comes @ 8563/8570 levels.
Nifty continued with its impulsive rise with 23 days of rise and moving up 768 points, if 8527 is broken the rise can continue with 8710 odd levels else pullback till 8350/8400 range.
Nifty Daily Elliot Wave Chart
Daily chart are is showing 4 wave completed @7723 and V wave has started target comes @ 8660, correction will be part of the rise so use dips till 8350/8300 to enter.
Nifty Gann Date
As per time analysis 25 November is Gann Turn date , except a impulsive around this date. Last week we gave 19 November is Gann Turn date and Nifty showed expected move.
For Nifty traders who follow gap trading there are 7 trade gaps in the range of 7000-7800
8320/8350 should be watched closely when we see pullback in Nifty.
Nifty Weekly Chart
It was positive week, with the Nifty up by 87 points closing @8477 forming a bullish candlestick pattern on Weekly charts. Nifty is still in positive quarant as per time analysis.
Trading Monthly charts
Bulls need to protect the recent low of 8200 for rest of days for bullish moves to continue.Fisher Transform is reaching the exhaustive line so caution is advised.
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:8500
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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