Last Week we gave Chopad Levels of 9150, Nifty gave Short entry on Monday which did 2 target on Downside by Wednesday.Nifty for a single session was not able to close below the Chopad level of 9150 suggesting Bulls were under pressure from start of the week. Lets Analyze how to trade Nifty as we are approaching March Expiry and Financial Year closing.
Nifty Hourly Chart
Hourly chart was near the support line as shown in above chart and should see impulsive move towards 9200 holding 9077
Still waiting for 9312 for completion of extended abcd pattern.Bulls needs to hold 8992 for the target to come.
Nifty Gann Angles
Bulls should hold 9077 for a the move towards 9312/9468.
Nifty Supply and Demand
Bulls should now hold 8992 for march towards 9312/9468.
Nifty Gann Date
Nifty As per time analysis 27 March is Gann Turn date , impulsive move can be seen around these dates.
Nifty Weekly Chart
It was negative week, with the Nifty down by 52 points closing @9108 and continue to close above the next quadrant as in above chart and closing above 9100. Holding above 9077 we can see move towards 9300/9500. As discussed in last analysis New Time cycle from 11 March and will end at 27 March with 21/22 March very crucial dates.Bottom made on 22 March and rallied 100 points in 2 days.. Next time cycle start from 27 March till 04 April. Till 9020 is held cycle will remain positive.
Trading Monthly charts
Bulls need to hold 8992 on Monthly closing basis for next move towards 9600/10200 in next 6 months.
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:9101
Nifty Resistance :9170,9245,9325
Nifty Support :9032,8969,8900
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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Bulls need to hold 9077 or 9020 or 8992? either one or all?
8992 is major one.. 9077 broken low made 9024
Thanks For the value you provide. one correction if you please “Nifty for a single session was not able to close Above the Chopad level of 9150 suggesting Bulls were under pressure from start of the week”
Good article. thank you for sharing it