Last Week we gave Chopad Levels of 7555 , Nifty opened gap down below chopad levels and made low of 7494 before bouncing back near 1 target of 7605, Shorts Intitated on Tuesday were rewarded with 2 target done by Tuesday only.Lets analyses how to trade nifty next week.
Traders should work on New Year resolutions and use the below 2 post for planning a successful and profitable 2016.
Traders’ Resolutions for New Year-2016
New Year Resolutions for Trading Success
Nifty Hourly Chart
As discussed in last analysis Break of 315 @7551 can see fast move till 7430.
Nifty moved perfectly in pyrapoint angles break support at 315 line, and saw a quick fall till 360 and took exact resistance at 315and again had a fall till 360 degree.
Break of 7420 can see fast move till 7290. Close above 7420 again a move towards 7610.
Nifty Harmonic
Shark Pattern will get complete around 7503 level where we need to observe the price action. Holding the same we can see sharp bounceback. Nifty bounced back 3 times from 7503 before finally closing it below 7503.
Now Nifty is forming an ABCD pattern which gets completed around 7221 as shown in above chart.
Nifty Gann Angles
Gann angles are shown above as shown we can see move till blue line.
Nifty Supply and Demand
Self explanatory chart of Weekly Supply and Demand zone is shown,Weekly close below 7563 can see moving towards 7118 levels.
Nifty Elliot Wave
Keep in mind the possiblity of EW pattern.
Nifty Gann Date
Nifty As per time analysis 18/20 Jan is Gann Turn date , except a impulsive around this dates. Last week we gave 12 Jan Nifty saw a volatile move.
Nifty Gaps
For Nifty traders who follow gap trading there are 15 trade gaps in the range of 7000-9000
- 7067-7014
- 7130-7121
- 7276-7293
- 7229-7239
- 7454-7459
- 7963-7937
- 7741-7675
- 8327-8372
- 8937-8891
- 8251-8241
- 8232-8209
- 8116-8130
Fibonacci technique
Fibonacci Retracement
7539/7323/72630 are levels to be watched in coming week.
Nifty Weekly Chart
It was negative week, with the Nifty down by 163 points closing @7437 breaking the middle trendline as shown in above chart and closing below its 20/ 55/100 WEMA. Break of 7430 can see fast move till 7360/7290/7118 levels.
Trading Monthly charts
Monthly chart broke support @61.8 % on Monthly charts.
Nifty PE
Nifty PE @20.56 lowest from Oct 2014.
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:7376
Nifty Support:7327,7250,7165
Nifty Resistance:7457,7506,7555,7610
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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Thanks Raja Sir ..
Rgds,
Bramesh
DEAR ALL, NEVER PREDICT BULLISH / BEARISH !! TRADE WHAT U SEE NOT WHAT U THINK.
OUR ABILITY TO MAKE MONEY SIMPLY DEPENDS ON HOW MUCH CLOSE WE ARE AFTER THE MARKET MOVEMENT!
DRIVE YOUR TRADING VEHICLE LIKE A SHADOW BEHIND MARKET.
Thanks for valuable advise Raja sir
Rgds,
Bramesh
correction if its break 7393 not 7339– so much 3s and 9s confuse me while typing
on 16.5.2014 nifty future high–7621 and low 7164 = 457*50%=7393 ,–and 457*61.8%=7339 and 457*70.7=7298 –so downside 7393 and 7339 and 7298 targets are there if its break 7339 nifty future
7357 monthly pitchfork’s middle line is the only hope for nifty future support on monday
The start of the beginning has started
Overall around 7300 is good area to accumlate long…. ..
Nifty will find support at 7360 and mark an end to this downmove, relief rally will lead to 7730 in next 3 weeks , if at all 7118 has to come it will not in the current fall, close above 7860 and the wave 4 from 9119 would be over leading to 9600 over medium term
Dear Ddawra, Why are you so keen about giving bull count. Every time you have said about bull count, we fell like 9 pin. Earn money here and share your keen expertise. If you are earning here, then when actual bull count come, you are should be on holiday.