Last Week we gave Chopad Levels of 7636 , Nifty gave Long entry on Monday and did 2 targets on Upside by Wednesday. Lets analyses how to trade nifty in Expiry week .
Nifty Hourly Chart
As discussed in last week Nifty was able to close above 135 degree on weekly basis so we can see move towards 7686.
For coming week as 90 degree is where Nifty is struggling so holding 7650-7670 we can head towards 7825/7850, Unable to do so downmove till 7600/7580.
As discussed in last week As per Shark Pattern till we close above 7460 we can see next move till 7590/7695.
7695 done and now heading towards 7791/7820 where Black Swan pattern also gets completed. Range of 7795-7850 is very crucial range, unable to close above it can see 100-150 points correction.
Nifty Gann Angles
As discussed in last week Close above 7555 can see impulsive move towards 7700.
Now Nifty is heading towards the crucial gann zone of 7820-7850, holding 7650.
Nifty Supply and Demand
Another Weekly close above 7600 is done by bulls so we are heading towards 7859/7900 in 3-4 weeks.
Nifty Gann Date
Nifty As per time analysis 28/31 March is Gann Turn date , except a impulsive around this dates. Last week we gave 23/21 March Nifty saw a volatile move.
For Nifty traders who follow gap trading there are 6 trade gaps in the range of 7000-9000, rest all gaps were filled in the last week fall.
7707/7527/7650/7850 levels to be watched in coming week.
Nifty Weekly Chart
It was positive week, with the Nifty up by 112 points closing @7716 close above the middle line of AF for 2 week and above its 200 WSMA, and 20 WSMA , High made was 7613 for current week, Upper AF line comes at 7835, need to be cautious as and when it comes. 7600-7613 will act as strong support now.
Trading Monthly charts
Monthly chart close above resistance at 50%.
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:7690
Nifty Resistance :7760,7835,7900
Nifty Support :7650,7580,7501
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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