Last Week we gave Chopad Levels of 8370, Nifty gave Long/Short entry on Monday which gave whipsaw but Short entry on Tuesday rewarded Chopad Followers handsomely rewarding them with 2 targets.Lets analyze how to trade in coming week with the start of earning season.
Nifty Hourly Chart
Hourly Chart resistance at 8356/8410 and above than can see fast move towards 8495. Support @8210.
As discussed in last analysis Low made 7927, Now if we continue to close above 7927 we can see move towards 8500.
75% of target done with high made till now 8398.
Nifty is also forming a crab pattern which has PRZ zone of 8401/8466. Longs should book in this area.
Nifty Gann Angles
Self Explanatory Gann Angle chart,Consolidating near gann angles before the next move. Bulls needs close above 8372 and bears below 8210.
Nifty Supply and Demand
Now Bulls need to hold 8294 on Weekly close basis for a target of 8544, Bears active below 8287 for tgt of 8210/8101
Nifty Gann Date
Nifty As per time analysis 11 July is Gann Turn date , except a impulsive around this dates.
For Nifty traders who follow gap trading there are 8 trade gaps in the range of 7000-9000, rest all gaps were filled in the last week fall.
Nifty Weekly Chart
It was negative week, with the Nifty down by 5 points closing @8323.Nifty has been trading in the weekly channel as shown above, Bulls again managed to close above the weekly channel suggesting they are still in play.
Trading Monthly charts
4 Months of Higher close, BUlls should hold 7927 for market to scale up.
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:8387
Nifty Resistance :8447,8501 ,8544
Nifty Support :8325,8260,8180
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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