Last Week we gave Chopad Levels of 8286, Nifty gave no entry as it opened gap down at 8230 thus chopad followers did not get an oppurtunity to trade last week, break from trading after long time 🙂 Lets analyze how to trade nifty in coming week expecting some good move.
Nifty Hourly Chart
As discussed in last analysis Now coming week holding 8250 nifty can move towards 8330/8370/8444. Bearish below 8250 for a move towards 8180/8100
Nifty opened below 8250 and did the target of 8180 and low made 8121 near 8100. Bulls are backend till we do not close above 8154, Above 8154 target 8230/8272. Below 8130 move towards 8097/8051/8000.
ABCD Pattern target is of 8370 Holding 8044.
Nifty Gann Angles
Nifty still holding gann angles support zone heading towards 8330/8370 holding 8097 and closing above 8150.
Nifty Supply and Demand
Nifty due to small range has formed a conflict of multiple supply and demand zone, 8156 is laxman rekha for bulls and bears, below 8156 tgt 8097/8056/8031. Above 8156 another move towards 8230/8272.
Nifty Gann Date
Nifty As per time analysis 20/22 Dec is Gann Turn date , except a impulsive around this dates.
Nifty Weekly Chart
It was negative week, with the Nifty down by 122 points closing @8139 forming a Inside bar candlestick pattern and closing below 8150, New Time Cycle starts from 15 Dec-10 Jan started on a choppy note, expect some good move in coming week.
Trading Monthly charts
Trading below 8250 bears will have upperhand for rest of trading month.
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:8156
Nifty Resistance :8210,8270,8330
Nifty Support :8097,8040,7972
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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