Last Week we gave Chopad Levels of 7740 , Nifty gave Long entry on Monday and got Stopped out on Tuesday at opening but gave Short entry as Open was 7736 below chopad levels and did all 3 target by Tuesday hence rewarding disciplined chopad levels . Lets analyses how to trade nifty in coming week as we have only 3 trading days as 14 and 15 are trading Holidays.
Nifty Hourly Chart
Nifty hourly broke 90 degree on RBI day saw a quick move twoards 135 degree as shown with arrows, Now consolidating around 135 degree, Break of 7570 on Upside will bee move towards 7696 and break of 7500 will be move towards 7414.
Nifty Harmonic
As discussed in last week High made till now 7777, and we saw a correction 100 points, Now if we close above 7740 we can see move towards 7800/7852.
7640 did not hold after RBI day hence move towards 7800/7852 negated. Now we are forming a SHARK Patter as shown above Holding 7545 we can see move towards 7649/7696.
Nifty Gann Angles
Nifty is trading between Gann Angles strong resistance in zone of 7800/7850 Support is range of 7350/7300.
Nifty Supply and Demand
As discussed in last analysis Another Weekly close above 7600 is done by bulls so we are heading towards 7859/7900 in 3-4 weeks.
Nifty closed below 7600 hence bullish move towards 7859/7900 has been negated. Now Bulls needs to close above 7584 for move towards 7730/777. Close below 7500 will see move towards 7405.
Nifty Gann Date
Nifty As per time analysis 11 April is Gann Turn date , except a impulsive around this dates. Last week we gave 05/07 April Nifty saw a volatile move.
Nifty Gaps
For Nifty traders who follow gap trading there are 6 trade gaps in the range of 7000-9000, rest all gaps were filled in the last week fall.
- 7109-7090
- 7222-7308
- 7368-7406
- 7387-7275
- 7298-7271
- 8937-8891
- 8251-8241
- 8232-8209
- 8116-8130
Fibonacci technique
Fibonacci Fan
7527/7442/7318 levels to be watched in coming week.
Nifty Weekly Chart
It was negative week, with the Nifty down by 157 points closing @7555 forming a bearish engulfing pattern , close above the middle line of AF for 3 week and above its 200 WSMA, and 20 WSMA , Upper AF line comes at 7835, need to be cautious as and when it comes.
Trading Monthly charts
Monthly chart support at 50%.
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:7546
Nifty Resistance :7610,7666,7720
Nifty Support :7470,7420,7380
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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Gann is awesome. I have been following your blog quite lately. It’s immensely useful to me. Thanx for sharing this knowledge. I was on lookout for a insightful blog for a long time where I’ll find real life practical examples. Persistence pays. The law of attraction works.
I have a query regarding a pattern which drew based on what I studied in your blog. Can you please help me on this?
thanks !!
which pattern you need my help on ?
Sir, Can You please Tell me How and Where to Look for Gann Dates and Where to find some Study Material about Gann
Last week’s chopad level was 7740.
Long triggered on Monday & SL hit @7720
Long triggered again on Monday itself.
On Tuesday, SL hit @7720.
Question is when do we enter short?
If we short @7720, what will be the SL for this trade?
Will the target remain same for short trade then?
In general, how to trade when long triggers & hit SL and vice versa.
Thanks
Buy above Chopad levels SL 21 points, 2 time SL triggred no futher trade .
Paper trader for atleast 3 months before doing any live trades.
Rgds,
Bramesh