Nifty Weekly Forecast for RBI Policy on 05 April

Last Week we gave Chopad Levels  of 7690 , Nifty gave Short entry on Monday and did 2 targets on downside by Tuesday and made low of 7582 near our second target of Chopad level, Long were initiated on Wednesday did 1 target on Thursday hence rewarding disciplined chopad levels on both upside and Tuesday  . Lets analyses how to trade nifty in coming week .

Nifty Hourly Chart

Nifty hourly is trading in a uptrend channel as shown above, also trading near 21/34 ema, suggesting choppiness in market, Breakdown below 7588 for target of 7489/7460, Breakout above 7800 for target of 7886/7952.

Nifty Harmonic

As discussed in last week 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.

High made till now 7777, and we saw a correction 100 points, Now if we close above 7740 we can see move towards  7800/7852.

Nifty Gann Angles

 

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   05/07 April  is Gann Turn date , except a impulsive around this dates. Last week we gave 28/31 March Nifty saw a volatile move.

Nifty Gaps

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.

• 7109-7090
• 7222-7308
• 7368-7406
• 7387-7275
• 7298-7271
• 8937-8891
• 8251-8241
• 8232-8209
• 8116-8130

Fibonacci technique

Fibonacci Fan

7527/7650/7850/7952  levels to be watched in coming week.

Nifty Weekly Chart

It was neutral week, with the Nifty down by 3 points  closing @7713 forming a long legged DOJI, close above the middle line of  AF for 2 week and above its 200 WSMA, and  20 WSMA , Upper AF line comes at 7835, need to be cautious as and when it comes.

Trading Monthly charts

Monthly chart close above resistance at 50%.

Nifty Weekly Chopad Levels

Nifty Trend Deciding Level:7740

Nifty Resistance :7799,7888,7972

Nifty Support :7690,7610,7555

 

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.

Want to see post in your Inbox,Register by adding your email id in Post in your Inbox section

Follow on Facebook during Market Hours:  https://www.facebook.com/pages/Brameshs-Tech/140117182685863

Follow on Twitter  during Market Hours:  https://twitter.com/brahmesh