Nifty Weekly Forecast before RBI Policy

Last Week we gave Chopad Levels  of 8181, Nifty  had a very choppy week and whipsawed Chopad followers after long time, Always remember the golden rule  IF SL gets triggered 2 times in a day No further trade. Capital Preservation is most important for trader.  Nifty made high of 8262 which was our 1 target of Buy.  Lets analyses how to trade nifty in coming week as we have RBI Policy and gann crucial turn date also coming up.

Nifty Hourly Chart

NIFTY - Pyrapoint

As discussed in Last Analysis Hourly chart as per pyrapoint has support at 8120 and resistance at 8250.

Low made was 8134 and High made was 8262 both within the pyrapoint range. Now for coming week Close above 8262 we can see move till 8392, and below 8200 can see move till 8120/8025.

Nifty Harmonic


We are forming 3 Harmonic pattern, 2 forming on Hourly are bearish (ABCD, SHARK)  which gets invalidated on close above 8242-8262 range target are coming in range of 8075-8025. Nifty Harmonic

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

Gann angles support @8134

Nifty took exact support at gann trendline orange color before giving a bounceback.

Holding 8210 on Weekly basis can see next move towards 8300/8392/8477/8577 range.

Nifty Supply and Demand

Supply Demand_Weekly

Next move towards 8336 holding 8000.

Nifty Gann Date

Nifty As per time analysis 08 June/10 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

Weekly Channel

It was Positive week, with the Nifty up by 64 points  closing @8221 consolidating the gains on last week, Nifty has risen 6% in matter of 2 weeks after  5 weeks of time correction. 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. For coming week as we have RBI policy expect some big range in market for coming week. Bulls should hold 8210 on weekly closing basis for next move till 8577.

Trading Monthly charts

nifty monthly

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

Nifty Weekly Chopad Levels

Nifty Trend Deciding Level:8286

Nifty Resistance :8333,8401 ,8474

Nifty Support :8150,8080,8025


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 Forecast before RBI Policy”

  1. Let us not make this a chat corner or message board. If you have a counter analysis, present it. Please don’t simply shout out your predictions / opinions. There are other places to do it.

  2. Don’t give any levels without any technical basis.. Just because you might be short on nifty !!

  3. World market and nifty going to crash soon, be cautious on longs. Over the next few months market will be in bear phase so short on rise. Nifty going to break 6825 as per EW and Gann. Its my view how i see market.

  4. Nifty As per time analysis 08 June/11 June is Gann Turn date , except a impulsive around this dates.

    11 June is Saturday Sir. Also, i think it should be expect and not except.

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