Last Week we gave Chopad Levels of 8100, Nifty gave short entry on Monday and did the 2 target on downside and missed the 3 target of 7896 by 20 points as low made was 7916 so disciplined Chopad Followers were rewarded again by Market. Lets analyze how to trade nifty in coming week as RBI increased CRR rate by 100 BPS.
Nifty Hourly Chart
As discussed in last analysis 8048 done now close below 8039 can see fast move towards 7972/7927/7888. Bullish on close above 8100 for a fast move towards 8151//8222/8300
Low made was 7916 so nifty did target of 7927 below 8039. Coming week 8100 will play crucial role above which nifty can see bounce till 8175/8220.
Nifty Harmonic
Nifty is forming a ABCD pattern target comes at 8175.
Nifty Gann Angles
As discussed in last analysis Now as per gann angles holding 8039 range we can see bounce till 8151/8300/8434 , Below 8039 fast fall till 7800.
Low made was 7916 and nifty took support at gann angles as shown in above chart, Coming week close above 8130 can see move towards 8220/8300
Nifty Supply and Demand
As discussed in last analysis Bulls will be under pressure till we do not have weekly close above 8295. Till we do not close above 8295 move towards 7927 possible.
Low made 7916 and bounced back and heading towards 8295.
Nifty Gann Date
Nifty As per time analysis 28/30 Nov is Gann Turn date , except a impulsive around this dates.
Nifty Weekly Chart
It was positive week, with the Nifty up by 40 points closing @8114 taking support at the lower channel forming a hammer candlestick pattern signalling reversal if we close above 8150 in coming week.Holding the low of 7916 NIfty can bounce back towards 8434/8500 as we are in new time cycle from 26 Nov till 14 Dec.
Trading Monthly charts
As per monthly chart traders should watch for 8450 level in any correction holding 8450 is very important for the current uptrend from 6825. Finally 8450 is broken, Bulls are under pressure till we do not close above 8300.
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:8071
Nifty Resistance :8151,8222,8290
Nifty Support :8020,7972,7900
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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Not by 100 bps… to 100 percent!
Bramesh, You are doing superb Job by giving so much insight on Nifty. Good to see most of the time you are close to perfect !!!
thanks a lot sir !!
sir how do u calculate chopad levels ?? is it weekly Vwap or weekly pivot ??
Its a complex formulae we use to calculate Chopad level..