Nifty Weekly Technical Analysis

Last week we gave Chopad Levels  of 8335  , Nifty opened with a gap @8380 did all 3  target on upside and rallying 334 points from the low seen in last week. We have RBI policy scheduled on Tuesday so lets analyze how to trade in new financial year.

 Nifty Hourly Chart

nifty hourly

Nifty Hourly charts is trading in channel and above its 21/34 EMA also forming an inverted flag and pole pattern on Hourly chart.8630 is 200 HEMA and should be watched, range of 8630-8666 watched before RBI policy.

 Nifty Hourly Elliot Wave Chart

Nifty Hourly EW

8627 will play a vital role in coming week, close below can see 8700/8793 range.

Nifty Pyrapoint Analysis

NIFTY - Pyrapoint

As per Pyrapoint Analysis close above 8627 is required for rally to continue and  short term reversal as its 180  degree line.

 Nifty Market Profile

Market Profile

This is what we discussed last week Coming week 8672 should be watched, holding the same we can see rally continue. Unable to close above it can see Nifty moving towards 8545/8523 odd levels.

 Nifty Daily

nifty daily

Nifty attempted to close in channel but was unable to do so. Closed above its 100 DMA but channel entry is awaited for confirmation on reversal.

Nifty Gunner

Nifty Gunner

ON Daily chart Nifty Gunner bouned from red arc and took resistance at green arc. Close above 8627 can make move towards 8700/8743

Nifty Harmonic

Nifty Harmonic

AS discussed last week Harmonic pattern shows the completion of bearish pattern now waiting for counter trend rally Will Nifty oblize ?

Nifty showed counter trend rally and trend changed to buy the dips from Sell on rise as candle turned grey from red.

Nifty Daily Elliot Wave Chart

NIFTY - Daily EW

As per EW more legs are left to the rally use dips around 8200/8165  to take exposure to quality large and mid caps stocks. NO leveraged positions this for cash market traders.

Traders who bought as per last message should have got rewarded

Nifty Gann Date

Nifty As per time analysis 06 April/08 April  is Gann Turn date , except a impulsive around this dates. Last week we gave 30 March/01 April Day  and Nifty saw a volatile move on both the days .31 it created short term bottom 01 April saw a big rally.

 Nifty Gaps

For Nifty traders who follow gap trading there are 14  trade gaps in the range of  7000-9000

  • 7067-7014
  • 7130-7121
  • 7276-7293
  • 7229-7239
  • 7454-7459
  • 7526-7532
  • 7598-7568
  • 7625-7654
  • 7780-7856
  • 7927-7974
  • 8029-8065
  • 8378-8327
  • 8102-8167
  • 8341-8380
  • 8937-8891

Fibonacci technique

Fibonacci fan

nifty ff

Nifty near its Fibo fan resistance so next week we need to see do we get the follow up move.

nifty fibo

8671  is 61.8% retracement number so keep a eye on this.

Nifty Weekly Chart

nifty weekly

It was positive week, with the Nifty up by 244 points  closing @8586 , and closing its 20 WSMA and also entered back its weekly channel. Also we are entering a new time cycle which will be till 10 April  which will be neutral to positive. As per Gunner pattern we are might has formed short term bottom and heading for trend change near the grey line.

Nifty Weekly Timeline 

Weekly Gunner


Trading Monthly charts

nifty monthly

Monthly chart took support near 23.6% retracement line and also low of 8464 will play a major role in coming month.

Nifty PE


As per PE ratio has cooled of to 22.95, We were cautioning readers from past 3 weeks when it touched 24 zone, still we need range for 20-21 for a cool off.

Nifty Weekly Chopad Levels

Nifty Trend Deciding Level:8627

Nifty Resistance:8676,8746,8806

Nifty Support:8523,8443,8370

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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8 thoughts on “Nifty Weekly Technical Analysis”

  1. I don’t know about gap trading, Can you explain this? If there is any previous posts, pl let me know.

  2. You are one person I have seen using so many indicators/tools and yet do not suffer from “analysis-paralysis”.
    It would be very interesting to know what else you have time to do, other than learning and blogging about markets. Long live.

  3. Great analysis…Bramesh ji.. Would appreciate if you could teach us about slow stochistics, fast stochistics n RSI combined with moving averages… For identifying new trend…thanks in advance

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