Last Week we gave Chopad Levels of 8416, Nifty gave Short Entry on Monday but got stopped on Tuesday. Long Entered on Wedneday got Stopped out on Friday and Shorts taken on Friday rewarded Chopad followers making the coming week netural one. Risk and Money Management plays an important role during such sideways market conditions. Lets Analyze How to trade Nifty in coming week.
Nifty Hourly Chart
As discussed in last analysis Coming Week 8432 will play crucial role close above it 8567/8700 on cards below it downmove till 8300/8250.
Nifty closed above 8435 which got stopped out and below 8432 and made low of 8340 and heading towards 8300/8250 in next week.
As discussed in last analysis Cypher harmonic pattern got completed and correction can be seen till 8295/8240 range unable to close above 8460.
High made was 8460 and heading towards 8328/8250 till 8460 is not broken in coming week.
Nifty Gann Angles
As discussed in last analysis Coming week close above 8460 next upmove towards 8600/8700. Bearish below 8250 only
High made was 8460 and unable to cross suggesting downmove towards 8325/8250.
Nifty Supply and Demand
As discussed in last analysis Coming week close above 8460 next upmove towards 8600/8656. Unable to do so downmove towards 8300/8261.
High made was 8460 so bulls unable closed above 8460, Now heading towards 8253
Nifty Gann Date
Nifty As per time analysis 23/25 Jan is Gann Turn date , impulsive move can be seen around these dates.
Nifty Weekly Chart
It was negative week, with the Nifty down by 51 points closing @8350 taking support at the upper end of channel. As new time cycle is coming so expect good move in market in next 2 weeks.
Trading Monthly charts
Monthly chart should hold 8295 for Bulls to rule in next 6 months.
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:8335
Nifty Resistance :8383,8440,8500
Nifty Support :8295,8245,8190
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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