Nifty Weekly Forecast for 07 Aug-11 Aug

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.

Nifty Harmonic

 

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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