Nifty Weekly Outlook and Trend for September Expiry

Last Week we gave Chopad Levels  of 8777, Nifty gave Long Entry on Monday which got stopped out on Tuesday as close was below chopad level, Short take again on Tuesday were again stopped out on Wednesday as close was above chopad level, But Long Taken on Wednesday rewarded the discipline chopad followers as next day we open gap up and did the 1 target on upside.  Lets analyze how to trade nifty in coming  week as we are entering a crucial week as per gann analysis.

Nifty Hourly Chart

Nifty continue to trade in its triangle pattern on hourly chart,Support at lower level come at 8803, break of 8803 can see nifty correcting back till 8761/8700.  Bullish on breakout above 8851 for target of 8903/8950.

Nifty Harmonic

Unable to close above 8890 Nifty can see correction till 8732 as per Cypher pattern.

Nifty Gann Angles

Nifty held on the gann line on daily chart, and we saw the expected move, but we did not see the 200-300 point move as we were expecting due to conflict of 2 time cycle as discussed in daily analysis.  Bulls need to held on to range of 8720-8730 for the bullish cycle to continue for target of 9000/9056/9120. Bears below 8700 can push nifty towards 8550/8477.

Nifty Supply and Demand

Now for coming weeks bulls should hold 8774 for a move towards all time high of 9119. Bears below 8728 can move towards 8540.

Nifty Gann Date

Nifty As per time analysis 25/30 Sep  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
• 8607-8642

Nifty Weekly Chart

It was positive week, with the Nifty up by 51 points  closing @8831 formed another DOJI pattern holding on the weekly trendline. Bulls need Weekly close above 8928 to get back momentum in their favour. Bears will get active on close below 8700 for target of 8620/8577.

Trading Monthly charts

6 Months of Higher close, Bulls should hold 8670 on Monthly basis for next target of 9120

Nifty Weekly Chopad Levels

Nifty Trend Deciding Level:8851

Nifty Resistance :8902,8970 ,9033

Nifty Support :8780,8720,8650

 

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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