Last Week we gave Chopad Levels of 10171, Nifty gave Short Entry as per Chopad Level Monday but was stopped out, Longs were triggered at closing was at 10184 and did all 3 Targets on upside, so good week for Chopad followers after Diwali. Lets see How to trade Nifty in week.
As discussed in last analysis As per ABCD pattern rally can extend towards 10374 holding 10100.High made 10251 is crucial and is PRZ zone for shark pattern, close below 10100 will give more fuel to this pattern and will also invalidate the ABCD pattern.
Low made was 10124 and rallied towards 10366 and now waiting for 10410 to come. SO ABCD pattern not invalidated and 10360 done now till 10240 is held we can see rally till 10530-10560.
Nifty Gann Angles
As discussed in last analysis 10236 also done, Now bulls should held 10100 for next round of move towards 10410/10570.
Low made was 10124 and rallied towards 10366 and now waiting for 10410 to come.
Nifty Supply and Demand
Self Explanatory chart..
Nifty Time Analysis Pressure Dates
Nifty As per time analysis 31 Oct /02 Nov is Pressure date , impulsive move can be seen around these dates.
Nifty Weekly Chart
It was positive week, with the Nifty up by 176 points closing @10323 As discussed in last analysis Next week as new time cycle is starting from 23 Oct so we can see one of the range breaking.Bulls need weekly close above 10201 for next rally towards 10355/10400. Bearish below 10090 for a move towards 10000/9930. 18 Oct is another important trend change date.
Nifty made low on 19 Oct and rallied all the way 10355 doing our target. Now for coming week till we are holding 10301 bulls can rally till 10420/10464/10520. Bearish below 10240 for a move till 10150/10090.
Trading Monthly charts
10100 is playing an important resistance zone on Monthly chart, Nifty finally closed above it now we need monthly closing above 10300 for next move towards 10576-10600.
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:10355
Nifty Resistance :10410,10464,10512
Nifty Support :10301,10255,10190
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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