Will Nifty hold 7850 for coming week,Weekly Forecast

Last Week we gave Chopad Levels  of 7921 , Nifty gave Short entry on Monday which did 1 target on Monday Low made was 7842 near our 1 target of 7850 also very crucial gann level. Longs taken got Stopped out on Wednesday. It was lowest range of Nifty in past many weeks, range was just 136 points. Lets analyses how to trade nifty in coming week as we have April F&O Expiry

Nifty Hourly Chart

As discussed last week  Holding  7850 on Upside will bee move towards 7972/8096 where 1 rotation of price is completed.

Low made was 7842 and High made 7978 so both within our levels. Again for coming week 7978 and 7850 should be broken close above any of these 2 levels will give move of 130 points.

Nifty Harmonic

As discussed in last week   Holding 7850 we can see move till 7972/8096 as per forming shark pattern.

7972 done now waiting for 8096

Nifty Gann Angles

Nifty showed an important breakout this week as first time after  04 March Nifty has broken an important gann angle as shown above,Now for coming few weeks 7777 needs to be watched. If held on it nifty can move towards 8100/8250 as per gann price and time analysis.

Nifty Supply and Demand

we need to see close above 7921 on Weekly basis for next move till 8336 else we will go back to 7777.

Nifty Gann Date

Nifty As per time analysis   25/29 April  is Gann Turn date , except a impulsive around this dates. Last week we gave 18/21 April

Nifty Gaps

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.

• 7109-7090
• 7222-7308
• 7368-7406
• 7387-7275
• 7298-7271
• 7708-7777
• 8937-8891
• 8251-8241
• 8232-8209
• 8116-8130

Fibonacci technique

Fibonacci Fan

Holding 61.8% as shown above can see move towards 78.6% which is near 8090-8100 range.

Nifty Weekly Chart

It was positive week, with the Nifty up by 48 points  closing @7899  forming a DOJI pattern , close above the upper line of  AF first time after 9119 which is a big positive based on technical, Now need to see if we close above 7850 for next 1 weeks if we do than we are heading towards 8100/8250.

Trading Monthly charts

Monthly chart support at 50% and bounced from that.

Nifty Weekly Chopad Levels

Nifty Trend Deciding Level:7921

Nifty Resistance :7972,8041,8116

Nifty Support :7850,7777,7720

 

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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