Nifty trend analysis after Reexit done and Brexit pending

Last Week we gave Chopad Levels  of 8120, Nifty gave short entry on Monday, and did 1 target on downside and also gave long entry on Wednesday which also did 1 target. Coming week Market will start with Rexit action & will end with Brexit reaction. Impact of RaghuRam Rajan Exit on Indian Markets

Nifty Hourly Chart

Hourly Chart is forming triangle, pattern is forming, break of 8075 can see 7848 and above 8295 can see 8532 levels in medium term.

Nifty Harmonic

As Nifty did not hold on to 8242-8262 range so the downmove can end near 7971 as per Deep Crab Pattern.

On Daily we have a Bullish Shark pattern forming which till we held on to 7972 can see move till 8500-8527 in medium term.

Nifty Gann Angles

Nifty s coming near the gann angle, so if 8100-8120 range is held we can see another upmove. Else we will move down to 8000 odd levels.

Nifty Supply and Demand

Next move towards 8336 holding 8000.

Nifty Gann Date

Nifty As per time analysis 22 June  is Gann Turn date , except a impulsive around this dates.

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.

• 7222-7308
• 7368-7406
• 7748-7809
• 7934-7948
• 8069-8077
• 8937-8891

Nifty Weekly Chart

It was Positive week, with the Nifty up by 0.15 points  closing @8170.Nifty has been trading in the weekly channel as shown above, from the low of 6825, Now we need to hold 8134-8100 range for another up move towards  8500-8550 range, Nifty did not close below 8100 for the last week. Bulls failed to hold 8210 on weekly closing basis for next move till 8577, but for coming week if 8100-8120 range is held we can see another attempt to close above 8210.

Trading Monthly charts

Monthly closed above  61.8% retracement ,signaling bulls have upper hand

Nifty Weekly Chopad Levels

Nifty Trend Deciding Level:8085

Nifty Support:8000,7935 ,7852

Nifty Resistance:8150,8210,8300

 

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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