Last Week we gave Chopad Levels of 8111, Nifty gave Long/Short entry on Monday which gave whipsaw but Long entry on Tuesday rewarded Chopad Followers handsomely rewarding them with all 3 targets.Lets analyze how to trade in coming week.
Nifty Hourly Chart
Hourly Chart resistance at 8356/8410 and above than can see fast move towards 8495. Support @8210.
Nifty Harmonic
As discussed in last analysis Low made 7927, Now if we continue to close above 7927 we can see move towards 8500.
Half of the target done.
Nifty Gann Angles
Self Explanatory Gann Angle chart now facing resistance at gann angle, Unable to close above it can see fall till 8210.
Nifty Supply and Demand
8336 done as discussed in last analysis Next move towards 8336 holding 7921.
Close above 8336 required for next move 8545.
Nifty Gann Date
Nifty As per time analysis 04 July is Gann Turn date , except a impulsive around this dates.
Nifty Gaps
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.
- 7222-7308
- 7368-7406
- 7748-7809
- 7934-7948
- 8127-8157
- 8204-8242
- 8287-8308
- 8937-8891
Nifty Weekly Chart
It was positive week, with the Nifty up by 240 points closing @8329.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:8370
Nifty Resistance :8416,8465 ,8530
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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As per Elliot Wave analysis, Nifty will go up and break 9116. So every dip has to be bought since it is highly bullish. Wait for dip to buy.