Last Week we gave Chopad Levels of 7457 , Nifty gave short entry on Monday made High of 7600 and did all 3 targets by Wednesday thus rewarding discipline chopad followers by 200 points in matter of 3 trading sessions, Nifty was unable to close above the Chopad level of 7593 throughout the week. Lets analyses how to trade nifty next week.
Nifty Hourly Chart
Coming week Break of 315 can see market moving towards 7700.
Nifty did 3 target of 7607 made high of 7600 as per ABCD patter ,Close above 7607 can see quick move till 7693. Nifty is also forming Bearish BAT pattern which can see NIfty moving all the way till 7892/ 8003 as shown below for that we need to close above 7600 on weekly basis.
Nifty Gann Angles
As discussed in last week Gann angles are shown above as shown we can see move till blue line.
Nifty bounced exactly from gann angles. Holding 7240 we can see move till 7550/7607.
Nifty Supply and Demand
Self explanatory chart of Weekly and Daily Supply and Demand zone is shown,Weekly close above 7563 can see moving towards 7921 levels.
Nifty Gann Date
Nifty As per time analysis 08/10 Feb is Gann Turn date , except a impulsive around this dates. Last week we gave 02/04 Jan Nifty saw a volatile move.
For Nifty traders who follow gap trading there are 15 trade gaps in the range of 7000-9000
Nifty moving in betten the Fibo Arcs as shown above 7414/7520/7607 are levels to be watched in coming week.
Nifty Weekly Chart
It was negative week, with the Nifty down by 74 points closing @7489 able to cross just above the middle trendline as shown in above chart and closing below its 20/ 55/100 WEMA.
Trading Monthly charts
Monthly chart need to close above the of 61.8% @7700.
Nifty PE @19.99 double bottom in PE
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:7455
Nifty Resistance :7500,7560,7634
Nifty Support :7400,7350,7280
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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