Last week we gave Nifty Chopad level of 8205 Nifty did 3 target on downside and got stop out on upside ,Nifty after making short term bottom @ 7961 is back above 8200 We have Jharkhad and J&K election results coming on 23 Dec and Expiry on 24 Dec .Lets see how to trade next week.
Nifty Hourly Chart
Nifty Hourly charts is approaching its trendline resistance @8306 crossing the same the upmove will continue till 8380/8450 else we might see pullback again towards 8150 odd levels.
Nifty Hourly Elliot Wave Chart
Elliot wave chart on Hourly is shown above suggesting upmove can continue further and 8280/8300 will decide further course of action.
Nifty Daily Chart
Nifty daily chart with Gann Box is shown above. Its heading towards 2X1 resistance of gann box, crossing the same bounceback else the trend continues on downside.
Nifty Harmonic
Nifty daily chart as shown above has entered in BUy on dips mode, Harmonic pattern shows correction is coming to an end.
Nifty Daily Elliot Wave Chart
As per EW more legs are left to the rally use dips to take exposure to quality large and mid caps stocks.
Nifty Gann Date
As per time analysis 23 and 24 December is Gann Turn date , except a impulsive around this date. Last week we gave 16 December is Gann Turn date and Nifty showed expected move with a 152 points downmove.
Nifty Gann Emblem
23 Dec and 16 Jan are very important date as per Gann Embelm.
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
- 8029-8084
- 8159-8208
Fibonacci technique
Fibonacci fan
Nifty took exact support @ gann fan holding the same 8350/8400 is possible on upside.
Nifty Weekly Chart
It was positive week, with the Nifty up by 1 points closing @8225 forming a hammer candlestick pattern . Weekly time frame as per Harmonic suggests Nifty is still in buy on dips mode . Nifty started the new time cycle with a negative week but this week we saw a buying at lows suggesting negative week cycle is getting over.
Trading Monthly charts
December Bulls need to protect 8150 and bears any close below 8100 can put a dent to this rally.
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:8286
Nifty Resistance:8335,8416,8465
Nifty Support:8205,8150,8100
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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Hi,
With regards to hourly EW, you have mentioned start of A as 8627 and ends 7961 and B might end somewhere close to 8400 and C to resume downtrend below 7961? pls advise.
Then in the daily chart there could be possibility of 9k as wave (v) of 3. So from wave iv to v, I believe this has to be an impulse wave and not corrective wave, pls advise.
Bramesh ,
In your previous Gann Emblem article on nifty , date 22 Dec and 16 jan as important date was mentioned , but here it is 23 Dec ,is it because of expiry you have take n this date into consideration following +/- 1 day as per Gann . pls educate us on this
yes ur understanding is correct.
Sir your nifty expiry target???
excellent analysis. Thanks Bramesh.
Bhalchandra
In all your articles only FII data is provided plz provide DII data also or mention NSE link from where we can calcuate
I am not interested in what DII’s are doing so not analyzing their data.
will u explain via bank nifty chart ,,plz
hai,,whats ur view on banknifty on larger time frame ,,,still 15 to 18percent is pending,,before entering in to severe correction,,,whats ur view
25K tgt for BN
Thank you sir
Good.Pls give nifty prediction for monday cloing figs.
Please read FII data analysis for MOnday