Last Week we gave Chopad Levels of 9150, Nifty gave Long entry in last week Long Entry on Monday which did 1 target on Upside by Tuesday.Nifty for a single session was not able to close below the Chopad level of 8921 suggesting Bulls were ready for the Big gap up which will happen tomorrow. Lets Analyze how to trade Nifty as we are approaching fresh life highs.
Nifty Hourly Chart
Hourly chart was near the support line as shown in above chart and should see impulsive move towards 9200 above 9083.
As discussed in last analysis Low made was 8860, if 8850 is held we can head towards 9140 to complete the D leg of abcd patter should be done by tomorrow.
9140 done now we can see move towards 9312 for completion of extended abcd pattern.
Nifty Gann Angles
As discussed in last analysis Still waiting for the target of 9120/9200 should be done by tomorrow.
9200 also done now we need to hold 9077 for a the move towards 9312/9468.
Nifty Supply and Demand
As discussed in last analysis8850 held now next move towards 9120 will be done tomorrow.
Bulls should now hold 8972 for next 2 weeks for a march towards 9468.
Nifty Gann Date
Nifty As per time analysis 21/24 March is Gann Turn date , impulsive move can be seen around these dates.
Nifty Weekly Chart
It was positive week, with the Nifty up by 225 points closing @9160 and entered in the next Quaternary as shown in above chart and closing above 9150. Holding above 9077 we can see move towards 9300/9500. New Time cycle from 11 March and will end at 27 March with 21/22 March very crucial dates.
Trading Monthly charts
As discussed in last analysis Monthly chart should hold 8295 for Bulls to rule in next 6 months. Till 8295 Held on Monthly chart Bullish move to continue.
8295 did the trick and we will be up more than 900 points from this level. Now Bulls need to hold 9000 on Monthly closing basis for next move towards 10200 in next 6 months.
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:9150
Nifty Resistance :9230,9300,9390
Nifty Support :9077,9000,8920
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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