Nifty Weekly Forecast for 16-20 Jan

Last Week we gave Chopad Levels  of 8256, Nifty gave Short Entry on Monday but got stopped on Tuesday as Nifty opened gap up and low made was 8261 suggesting short need to cut  and Longs were triggered which were rewarded as Nifty did the 3  target of 8432 High made was 8460 thus rewarding Chopad Followers. New Time Cycle rewarded Nifty Bulls as Bottom of this upmove was made on 09 Jan and from 10 Jan Nifty rallied 199 points in 4 days. Lets Analyze How to trade Nifty in coming week.

Nifty Hourly Chart

As discussed in last analysis   Coming week again 8250 will play crucial role close above it 8330/8370. Below it again a downmove till 8200/8100.

Coming Week 8432 will play crucial role close above it 8567/8700 on cards below it downmove till 8300/8250.

Nifty Harmonic

Cypher harmonic pattern got completed and correction can be seen till 8295/8240 range unable to close above 8460.

Nifty Gann Angles

As discussed in last analysis  Coming week again 8250 will play crucial role close above it 8330/8370. Below it again a downmove till 8200/8100.

Coming week close above 8460 next upmove towards 8600/8700. Bearish below 8250 only

Nifty Supply and Demand

As discussed in last analysis  Coming week again 8250 will play crucial role close above it 8330/8370. Below it again a downmove till 8200/8100.

Coming week close above 8460 next upmove towards 8600/8656. Unable to do so downmove towards 8300/8261.

Nifty Gann Date

Nifty As per time analysis 17/20 Jan  is Gann Turn date , impulsive move can be seen around these dates.

Nifty Weekly Chart

 It was positive week, with the Nifty up by 156 points  closing @8400 forming Bullish Engulfing pattern, closing above the resistance at the upper end of  channel. New Time Cycle rewarded Nifty Bulls as Bottom of this upmove was made on 09 Jan and from 10 Jan Nifty rallied 199 points in 4 days.

Trading Monthly charts

Monthly chart should hold 8295 for Bulls to rule in next 6 months.


Nifty Weekly Chopad Levels

Nifty Trend Deciding Level:8416

Nifty Resistance :8498,8567,8700

Nifty Support :8363,8300,8250

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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