Nifty Weekly Forecast for 15-19 May

Last Week we gave Chopad Levels  of 9312,  Nifty gave long on Monday which made high of 9450  thus rewarding disciplined Chopad  Traders. Lets see how to trade in coming week.

Nifty Hourly Chart

As discussed in last analysis    Coming week 9274 will play crucial role holding the same move back to 9368/9424/9468. Bearish below 9274 for move till 9220/9170/9120.

High made 9450, now for coming week above 9410 we can revisit 9460/9600 . bearish below 9370 for a move towards 9270/9200.

Nifty Harmonic

As discussed in last analysis Alternate ABCD in forming holding Holding 9270 we can see move towards 9400/9463.

Harmonic taget done now holding 9370 move towards 9584.

Nifty Gann Angles

As discussed in last analysis Bulls should hold  9100-9130 range  for a the move towards 9312/9468.

9468 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 18 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 115 points  closing @9401 and reached the top of quadrant where it took next resistance. As discussed in last analysis    Break of 9367 on upside can see move towards 9424/9500.

9450 done. 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.

Trading Monthly charts

Bulls need to hold 8992 on Monthly closing basis for next move towards 9600/10200 in next 6 months.

Nifty Weekly Chopad Levels

Nifty Trend Deciding Level:9407

Nifty Resistance :9468,9525,9586

Nifty Support :9360,9310,9240

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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