Nifty Weekly Forecast for 20-24 Aug

Last Week we gave Chopad level of 11390Nifty gave Short entry on Monday got stop out Long on Tuesday did 1 target  on upside,Short on Wednesday again got stopped out on Friday so bad week for chopad followers. Lets see how we trade nifty in coming week. Humble request to all blog readers Kerala is facing its worst flood in 100 years. 80 dams opened, 324 lives lost and 223139 people are in about 1500+ relief camps. Your help can rebuild the lives of the affected. Donate to . Donate Generously,Every Rupee Counts in this hour of need.

Nifty Harmonic

As Discussed in last analysis 11495 done now ABCD pattern is completed and we have PRZ zone now bears have upperhand towards 11300/11129/11070 till we do not close above 11500.

Still we are trading near PRZ Zone, Nifty need to close above 11500 to invalidate the pattern. Below 11430 we can see fall towards 11370/11333/11270.

Nifty Gann Angles

As Discussed in last analysis Fresh long should be taken above 11500. Below 11390 we can see correction till 11300/11230/11130/11070.

Breakout above 11500 for a move towards 11555/11612. Below 11430 we can see fall towards 11370/11333/11270.

Planetary Cycles and Nifty Movements

 

As Discussed in last analysis As we have hit the resistance zone as per planetary cycles bulls need a close above 11500 for a move towards 11557/11611. Bearish below 11390 for a move back to 11300/11230/11150/11070.

Breakout above 11500 as per planetary line as show above. Bearish below 11430 we can see fall towards 11370/11333/11270.

Nifty Supply and Demand

Self Explanatory chart..

Nifty Time Analysis Pressure Dates

Nifty As per time analysis 20/23 Aug is Pressure date , impulsive move can be seen around these dates.

Nifty Weekly Chart

It was positive week, with the Nifty up by 41 points  closing @11470.As Discussed in last analysis As we have hit the resistance zone as per planetary cycles/gann cycle bulls need a close above 11500 for a move towards 11557/11611. Bearish below 11390 for a move back to 11300/11230/11150/11070.

Breakout above 11500 for a move towards 11555/11612. Below 11430 we can see fall towards 11370/11333/11270/11230/11150/11070

Trading Monthly charts

We have resistance zone as per monthly chart so bull need a close above 11500 for a breakout towards target of 11600. Till we are below 11500 bears will have upper hand.

 

Nifty Weekly Chopad Levels

Nifty Trend Deciding Level:11500

Nifty Resistance:11570,11612,11666

Nifty Support :11430,11370,11300

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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