Nifty Weekly Forecast for 01-04 Nov

Last Week we gave Chopad Levels  of 8737, Nifty gave short entry on Monday as it made high of 8636.95 which did 3 target on downside, as our target of 8555 and low made was 8550 before nifty recovered, Thus rewarding the disciplined Chopad followers.  Wishing all Chopad Traders a very very profitable year ahead. Lets analyze how to trade nifty in coming week as volatility with increase in coming month.

Nifty Hourly Chart


As discussed in last analysis   For coming week range of 8737-8748 is important zone of resistance as shown above Closing above it move towards 8840/8950, Unable to close above it going for 8500 again.

High made 8737 and nifty turned down to make low of 8550. Coming week 8650-8660 is crucial zone, closing above it move towards 8737/8800 and below it move towards 8550/8448.

Nifty Harmonic

As discussed in last analysis Coming Week 8737 will play crucial role as closing above it will see move towards 8840 and unable to  close above it can see move towards 8525/8481.

Any close above 8737 will made a move towards 8852 for this pattern to be valid 8532 should be held.


Nifty Gann Angles


Nifty continue to trade in 2 gann angles breakout is offing.

Nifty Supply and Demand


As discussed in last analysis  8737-8773 is line of resistance for bulls and 8444 is downside support. 

Nifty Gann Date

Nifty As per time analysis 03 Nov  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
  • 8323-8407
  • 8607-8642

Nifty Weekly Chart


 It was negative week, with the Nifty down by 68 points  closing @8625  formed hammer candlestick pattern again closing above its weekly trendline as shown in above chart .

As discussed in last analysis Bulls need Weekly close 8774 for momentum to come in their favor, Unable to close above 8737 for next  week bears can push nifty towards 8577/8450 range..

8737 was the high made and nifty corrected till 8550. Now for coming week 8650-8660 is crucial range above it 8737/8800 below it 8500.Next week is very important as Gann Time Cycle.

Trading Monthly charts


As per monthly chart traders should watch for 8450 level in any correction holding 8450 is very important for the current uptrend from 6825.

Nifty Weekly Chopad Levels

Nifty Trend Deciding Level:8650

Nifty Resistance :8737,8828 ,8900

Nifty Support :8580,8518,8448


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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4 thoughts on “Nifty Weekly Forecast for 01-04 Nov”

  1. Dear Sir,
    Request you to share any article link where you have explained ‘Chopad Trading Strategy’ in details.

    Thanks and Regards
    Manas Roy

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