Last Week we gave Chopad Levels of 9688, Nifty gave Short on Monday which and did the first target on downside,Shorts again got triggered on Thursday did the 1 target thus rewarding disciplined Chopad Traders, Lets see how to trade in coming week.
Nifty Hourly Chart
As discussed in last analysis coming week above 9673 we can see fast move towards 9770/9850. Bearish below 9580 for a move towards 9520/9480.
Nifty moved above 9673 but failed to do target of 9770. Coming week Holding 9610-9630 range we can see fast move towards 9710/9770/9810. Bearish below 9580 for a move towards 9520/9480.
As discussed in last analysis now holding 9390 another attempt will be made towards 9584.
9709 done now holding 9580 next move towards 9798.
Nifty Gann Angles
As discussed in last analysis Now above 9610 target 9770/9906.
High made 9708 waiting for 9770/9906
Nifty Supply and Demand
Bulls need to hold 9580-9600 in correction if not able to hold fall towards 9488/9380
Nifty Gann Date
Nifty As per time analysis 12 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 15 points closing @9668 consolidating the gains for last 2 weeks. As discussed in last analysis 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.
Low made was 9608 and we saw good bounce back, Also the time cycle low of 01 June was not broken and we made high of 9710. As per new time cycle till the low of 09 June ie 9608 is not broken we can scale out towards 9750/9800 by 21 June. Break of 9600 can see swift fall towards 9520/9470.
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:9635
Nifty Resistance :9699,9751,9811
Nifty Support :9570,9520,9470
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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