Nifty Weekly Forecast for 08-12 Aug

By | August 7, 2016 2:48 pm

Last Week we gave Chopad Levels  of 8677, Nifty gave Long entry on Monday did the 1 target of 8710, High made was 8711 near our chopad levels and short triggered on Monday rewarded chopad followers handsomely as Nifty made low of 8518 near our final target of 8500 before giving an impulsive rally as explained in daily analysis using gann and harmonics . Last Week Chopad Level of 8677 was major resistance for bulls as Nifty failed to close above it most of the day and only on Friday closing hours was able to close above it. Lets analyze how to trade nifty in coming week.

Nifty Hourly Chart

NIFTY - Pyrapoint

As discussed in last Analysis Hourly Chart resistance at 8649 and support at 8500. Nifty found multiple resistance at 225 degree as shown above. Once the resistance was taken out we saw impulsive move. Now we are heading towards 8760-8790 zone where next level resistance zone.

Nifty Harmonic

Nifty Harmonic

As discussed in last Analysis  Holding 8480/8490 range nifty can see upmove till 8667/8737 as per Deep Crab harmonic pattern.

8711 was high so target done, Now for coming week Holding above 8670 Nifty can rally till 8752/8790

Nifty Gann Angles

gann angles

Self Explanatory Gann Angle chart,Resisting near gann angles before the next move.

2×1 line will act as an important support for bulls going forward, and nifty can see rise till 8900.

Nifty Supply and Demand

Supply Demand_Weekly

As discussed in last Analysis  Now Bulls need a weekly close above 8654 for 8773.

8683 done now heading towards 8773. 2 Weeks close above 8774 we can see move till 8951/9119.

Nifty Gann Date

Nifty As per time analysis 09/12 Aug  is Gann Turn date , except a impulsive around this dates.

Nifty Gaps

For Nifty traders who follow gap trading there are 8 trade gaps in the range of  7000-9000, rest all gaps were filled in the last week fall.

  • 7222-7308
  • 7368-7406
  • 7748-7809
  • 7934-7948
  • 8127-8157
  • 8204-8242
  • 8323-8407
  • 8937-8891

Nifty Weekly Chart

NIFTY - Weekly Trendline

It was positive week, with the Nifty up by 44 points  closing @8683.Nifty has been trading in the weekly channel as shown above, Bulls again managed to close above the weekly channel suggesting they are still in play and can play next move towards 8900 as per weekly channel.

Trading Monthly charts

nifty monthly

5 Months of Higher close, Bulls should hold 8577 for next target of 8951

Nifty Weekly Chopad Levels

Nifty Trend Deciding Level:8717

Nifty Resistance :8777,8830 ,8900

Nifty Support :8670,8620,8577


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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12 thoughts on “Nifty Weekly Forecast for 08-12 Aug

  1. Anand

    Does your basic course cover the following:
    1. How to arrive at chopad levels independently
    2. How to identify harmonic levels independently.



  2. soniya

    sir how can we know today will be a trending day or a sideway day using the previous day vwap and todays opening….is there any formula for that ?? waiting for ur reply sir..

      1. soniya

        does this topic covered in ur training ??…if yes plz let me know which course of u should i go for ??


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