Last Week we gave Chopad Levels of 7690 , Nifty gave Short entry on Monday and did 2 targets on downside by Tuesday and made low of 7582 near our second target of Chopad level, Long were initiated on Wednesday did 1 target on Thursday hence rewarding disciplined chopad levels on both upside and Tuesday . Lets analyses how to trade nifty in coming week .
Nifty Hourly Chart
Nifty hourly is trading in a uptrend channel as shown above, also trading near 21/34 ema, suggesting choppiness in market, Breakdown below 7588 for target of 7489/7460, Breakout above 7800 for target of 7886/7952.
As discussed in last week 7695 done and now heading towards 7791/7820 where Black Swan pattern also gets completed. Range of 7795-7850 is very crucial range, unable to close above it can see 100-150 points correction.
High made till now 7777, and we saw a correction 100 points, Now if we close above 7740 we can see move towards 7800/7852.
Nifty Gann Angles
Now Nifty is heading towards the crucial gann zone of 7820-7850, holding 7650.
Nifty Supply and Demand
Another Weekly close above 7600 is done by bulls so we are heading towards 7859/7900 in 3-4 weeks.
Nifty Gann Date
Nifty As per time analysis 05/07 April is Gann Turn date , except a impulsive around this dates. Last week we gave 28/31 March Nifty saw a volatile move.
For Nifty traders who follow gap trading there are 6 trade gaps in the range of 7000-9000, rest all gaps were filled in the last week fall.
7527/7650/7850/7952 levels to be watched in coming week.
Nifty Weekly Chart
It was neutral week, with the Nifty down by 3 points closing @7713 forming a long legged DOJI, close above the middle line of AF for 2 week and above its 200 WSMA, and 20 WSMA , Upper AF line comes at 7835, need to be cautious as and when it comes.
Trading Monthly charts
Monthly chart close above resistance at 50%.
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:7740
Nifty Resistance :7799,7888,7972
Nifty Support :7690,7610,7555
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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Thanks for helping trading community, would like to know if Nifty trading in bull phase or bear
Hi, on Friday also nifty went below 7690. Why this is not considered trade. Thanks.
New Year resolution is to implement all your instructions. Thanks for introducing Gann to us.You not only changed parameters of trading but also the landscape of trade world. Reading and following your analysis everyday is true education. I bow to you in reverance.
Thanks a lot mam !!
Am happy am able to help trading community.