Last Week we gave Chopad Levels of 10025, Nifty did gave long entry to Chopad Followers on Monday as we made Low of 10017 and did 1 target on upside. Shorts triggered got stopped out. Lets see How to trade Nifty in coming week as we approach the new time cycle from 07 Aug-24 Aug.
Nifty Hourly Chart
As discussed in last analysis for coming week above 10025 we can see fast move towards 10115/10157. Bearish below 9930 for a move towards 9877/9792.
10115 done, Now bulls need a close above 10090 for a move till 10150/10200/10247. Bearish below 10000 for a move towards 9930/9870.
10180 is target as per ABCD pattern.
Nifty Gann Angles
10200-10240 is the gann angle resistance zone as per above chart.
Nifty Supply and Demand
Bulls need to close above 10090 zone for a move towards 10115/10198/10240. Bears below 10000 can push towards 9920/9870.
Nifty Gann Date
Nifty As per time analysis 07 Aug is Gann Turn date , impulsive move can be seen around these dates.
Nifty Weekly Chart
It was positive week, with the Nifty up by 51 points closing @10066,closing above the 10000 facing resistance at higher end of AF, Now we are entering new time cycle from 07 Aug-24 Aug. Bulls need to close above 10000 for the cycle to turn positive and head towards 10157/10240/10400. Bearish below 10000 for a move towards 9930/9870/9800.
Trading Monthly charts
Bulls now need Weekly close above 10115 for a move towards 10288/10476. Bearish below 10000 for a move towards 9600.
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:10090
Nifty Resistance :10140,10201,10290
Nifty Support :10000,9930,9850
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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