Nifty Weekly Analysis November Expiry

Last week we gave  Nifty Chopad level of 8416  Nifty continued with its upward journey and make new life highs. Reserve Bank of India is scheduled to release the current account deficit (CAD) numbers for Q2 September 2014 on Monday, 24 November 2014, also Winter session will start . We have the expiry week so expect volatile moves.

 Nifty Hourly Chart

Nifty Hourly charts has meet its trendline resistance @ 8490,Breaking the same we can see another round upmove  till 8546/8597.

 

 Nifty EW Chart

EW on Hourly chart is shown above Break of 8506/8511 should be seen for correction of 50/75 points.

Nifty Daily Chart

Nifty daily chart with Vortex Indicator is shown above, Negative divergence is shown in Daily chart, Till 8350 is not broken negative divergence will not show its effect. Trendline confluence comes @ 8563/8570 levels.

 Nifty Harmonic

Nifty continued with its impulsive rise with 23 days of rise and moving up 768 points, if 8527 is  broken the rise can continue with 8710 odd levels else pullback till 8350/8400 range.

Nifty Daily Elliot Wave Chart

Daily chart are is showing 4 wave completed @7723 and V wave has started target comes @ 8660, correction will be part of the rise so use dips till 8350/8300 to enter.

Nifty Gann Date

As per time analysis 25 November  is Gann Turn date , except a impulsive around this date.  Last week we gave 19 November  is Gann Turn date and Nifty  showed expected move.

 Nifty Gaps

For Nifty traders who follow gap trading there are 7 trade gaps in the range of  7000-7800

• 7067-7014
• 7130-7121
• 7276-7293
• 7229-7239
• 7454-7459
• 7526-7532
• 7598-7568
• 7625-7654
• 7780-7856
• 7927-7974
• 8027-8052
• 8169-8198

Fibonacci technique

Fibonacci fan

8320/8350 should be watched closely when we see pullback in Nifty.

 

Nifty Weekly Chart

It was positive week,  with the Nifty up by 87 points  closing @8477 forming a bullish candlestick pattern on Weekly charts. Nifty is still in positive quarant as per time analysis.

 

 

Trading Monthly charts

Bulls need to protect the recent low of 8200 for rest of days for bullish moves to continue.Fisher Transform is reaching the exhaustive line so caution is advised.

 Nifty Weekly Chopad Levels

 

Nifty Trend Deciding Level:8500

Nifty Resistance:8546,8595,8676

Nifty Support:8440,8387,8300

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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