Nifty Weekly Analysis before Exit poll and Lok Sabha election results

By | May 11, 2014 4:04 pm

Last Week we gave Chopad level of 6726, Nifty did 2 target on upside and 1 target on downside .Nifty has gained 17 % since Sept. 13 when NaMo was officially anointed as Prime ministerial candidate. Exit poll and outcome of the election. IIP, WPI and CPI data due next week. Lets analyze how to trade Nifty before the Lok Sabha election results.

Nifty Hourly Chart

nifty hourly


Nifty Hourly charts took a flying start as soon at 6700 got broken and reached new high. Hourly chart shows potential to up till 6946 on MOnday.

Nifty Elliot Wave Analysis

Nifty Hourly EW

As per EW analysis it shows short term correction is over till 6640 is not broken and bounce back till 6783 is on cards. This is what we discussed last week Nifty made low of 6638 and bounced back heavily, Now as per EW we get 2 short term target of 7080 and 7227.

Nifty Daily Chart

nifty daily

Nifty took perfect support at gann arc as shown above and bounce back heavily, Short term target as per gann arc come at 7070.

 Nifty Gaps

For Nifty traders who follow gap trading there are 7 trade gaps in the range of  5300-6400

  • 5285-5303
  • 5448-5553
  • 5680-5700
  • 5780-5802
  • 6091-6108
  • 6328-6339
  • 6401-6413
  • 6493-6510
  • 6641-6643

Fibonacci technique

Fibonacci fan

nifty ff

As per Fibonacci Arcs using gann angles target comes at 7250 around 21-25 may. May comes earlier also.

nifty ff

As per Fibo retracement ,only a close below 50% retracement of 6641 , Nifty made a low of 6638 and bounced back. Fibo extension gives target of 7098 and 7236 in short term.


Nifty Weekly Chart

Nifty Weekly Andrew Pitchfork

It was positive week, with the Nifty up by 164  points  closing @6858. As per Andrew Pitchfork this move can extend another 2-3% easily giving target of 7050 next week, Also as per time analysis Nifty is trading in positive time zone so dips should be bought in this zone.Nifty Weekly Timeline

Trading Monthly charts

nifty monthly

Monthly chart gives a target of  7322 for short term as per Fibo ratio theory

 Nifty Weekly Trading Levels

Nifty Trend Deciding Level:6873

Nifty Resistance:6940,7067,7173,7246,7376 and 7506

Nifty Support:6790,6727.6638,6587 and 6520

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

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Category: Nifty and Lok Sabha Election

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

4 thoughts on “Nifty Weekly Analysis before Exit poll and Lok Sabha election results

  1. A.P.Venckataramana

    Thanks a lot Brameshji. Have learnt a lot from you and make my own analysis. U’ve have an open mind n down to earth approach taking all pros n cons.

  2. Subhas M

    This is an analysis with a heavy positive bias. The disclaimer at the end is a formality which does not cover the eventuality that anything can happen in the markets. Many small traders follow Bramesh almost blindly and have often benefited from his projections.Nevertheless, it must be emphasised that volatility in the coming week is likely to be very high. There may be heavy whipsaws. Also, traders must always remember what happened in 2009. The dates are similar !

    1. Bramesh Post author

      Dear Sir,

      I always try to analyze what price is showing, If you have been following my last week post the i have been telling a big move is coming, Market tested our patience by moving down to 6638 but rewards of patience was beyond imagination.

      So lets trust the price and stick to levels which are mentioned to take ride of both upside and downside whatever is in store in coming week.



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