Last Week we gave Chopad Levels of 9610, Nifty gave Short on Monday which got Stopout,Longs triggered did the 1 target of 9667 thus rewarding disciplined Chopad Traders, Lets see how to trade in coming week as we approach RBI Policy.
Nifty Hourly Chart
As discussed in last analysis For coming week above 9610 next move towards 9770. Bearish below 9470 only.
Apart from Monday all remaining days close was above 9610 and high made was 9673 still not reaching 9770, coming week above 9673 we can see fast move towards 9770/9850. Bearish below 9580 for a move towards 9520/9480.
As discussed in last analysis now holding 9390 another attempt will be made towards 9584.
9673 done not holding 9580 next move towards 9798.
Nifty Gann Angles
As discussed in last analysis Now above 9610 target 9770/9906.
High made 9673 waiting for 9770/9906
Nifty Supply and Demand
Bulls need to hold 9475-95 in correction if not able to hold fall towards 9352/9275
Nifty Gann Date
Nifty As per time analysis 08-09 June is Gann Turn date , impulsive move can be seen around these dates.
Nifty Weekly Chart
It was positive week, with the Nifty up by 58 points closing @9653 continue to rally after it took support at the lower quadrant last week. Now till we hold 9585-9600 range bulls have upper hand and can push nifty towards 9770. Bearish below 9550 for a move towards 9485/9401/9350. As per time cycle Low made on 01 June 9589 is very important holding the same we can scale towards 9750-9770 till 08-09 June.
Trading Monthly charts
As discussed in last analysis Bulls need to hold 9100 on Monthly closing basis for next move towards 9600/10200 in next 6 months.
9600 done now waiting for 10200.
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:9688
Nifty Resistance :9750,9820,9895
Nifty Support :9635,9586,9520
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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