Nifty Weekly Forecast for 04-08 Dec

Last Week we gave Chopad Levels  of 10400,  Nifty gave Short Entry as per Chopad Level Tuesday rewarded Chopad Followers as it did 3 Targets on Downside  so Great  week for Chopad followers.Nifty Made the top of 28 Nov after our Trend Change date and gave big downfall on 30 Nov our Impulsive date as discussed. Lets see How to trade Nifty in week as we approach the RBI Policy next week.

 

Nifty Harmonic

 

 As discussed in last analysis Another Week on close above 10250 and high made was 10405, waiting for target of 10482/10560.

Nifty failed to do target of 10560 and now with bearish pattern forming break of 10090 can see fall towards 10008.

Nifty Gann Angles

Trading in between gann angles on Weekly Time Frame,

Nifty Supply and Demand

Self Explanatory chart..

Nifty Time Analysis Pressure Dates

Nifty As per time analysis 04 Dec is Pressure date , impulsive move can be seen around these dates.

Nifty Weekly Chart

It was negative week, with the Nifty down by 267  points  closing @10122   As discussed in last analysis Now coming week 27 Nov is another important trend change date. Till 10350 is held bulls are on  upper hand and can see rally till 10490/10560. Bearish below 10300 for a move towards 10250/10180.

10300 broken on 30 Sep and we saw the fall till 10180. Now for coming ween 03 Dec is important trend change date and range of 10080-10090 is important support zone, Holding above it we can see rally back till 10300/10450.  Break of 10060 fall till 10000/9930.

 

Trading Monthly charts

As discussed in last analysis 10100 is playing an important resistance zone on Monthly chart, Nifty finally closed above it now we need monthly closing above 10300 for next move towards 10576-10600.November is crucial month for trend change. Nifty was not able to give a monthly closing above 10300 and now if 10094 is broken in December it would be first lower low in last 12 months.

Nifty Weekly Chopad Levels

Nifty Trend Deciding Level:10100

Nifty Resistance :10172,10240,10301

Nifty Support :10030,9980,9930

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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