Last Week we gave Chopad Levels of 9407, Nifty gave long on Monday which made high of 9532 by Wednesday near our Chopad Target thus rewarding disciplined Chopad Traders,Also the 100 point fall we saw on 18 May was on Gann Turn date as we discussed. Lets see how to trade in coming week as we approach an important trend change week.
Nifty Hourly Chart
As discussed in last analysis now for coming week above 9410 we can revisit 9460/9600 . bearish below 9370 for a move towards 9270/9200.
High made was 9532 so we did 9460 and made high of 9532 but failed to did target of 9600, Now for coming week above 9460 another upmove towards 9550/9584/9636. Bearish below 9390 for a move towards 9300/9240
As discussed in last analysis now holding 9370 move towards 9584.
9532 only done, now holding 9390 another attempt will be made towards 9584.
Nifty Gann Angles
As discussed in last analysis Bulls should hold 9100-9130 range for a the move towards 9312/9468.
9532 done now waiting for 9560/9610 on upside above 9460.
Nifty Supply and Demand
Bulls need to hold 9218 in correction if not able to hold fall towards 9019.
Nifty Gann Date
Nifty As per time analysis 22/26 May is Gann Turn date , impulsive move can be seen around these dates.
Nifty Weekly Chart
It was positive week, with the Nifty up by 27 points closing @9427 and closed above the next quadrant as shown in above chart. Holding the low of 9390 we can continue the uptrend to higher end
As discussed in last analysis Now as per new time cycle, break of 9460 we can see a move of 150 points and break of 9368 another 100 points move can be seen. We saw break of 9460 but failed to give the jump of 150 points we did 80 points move and 9368 was protected on downside. Now for coming week as per time cycle 22-23 May are important turn date and we can see a good move.
Trading Monthly charts
Bulls need to hold 9100 on Monthly closing basis for next move towards 9600/10200 in next 6 months.
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:9460
Nifty Resistance :9512,9575,9650
Nifty Support :9388,9310,9240
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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