Last Week we gave Chopad level of 10555 Nifty gave Short entry on 21 May and did 2 target on downside, Long taken on 25 May and gave 1 Target on upside so an excellent week for chopad followers. Lets see how we trade nifty in coming week,as we Approach the May Expiry.
Nifty Harmonic
As discussed in last analysis Bears can fall towards 10420/10321 till we close below 10666.
10420 done. Now once above 10610 bulls can do 10666/10730/10800
Nifty Gann Angles
As discussed in last analysis Now till we do not close above 10920 bears can break index towards 10512/10410/10360/10270/10212.
10420 done. Now once above 10610 bulls can do 10666/10730/10800
Planetary Cycles and Nifty Movements
As discussed in last analysis 10500-512 is important support zone closing below 10500 can see fall towards 10410/10360/10270/10212.
10420 done. Now once above 10610 bulls can do 10666/10730/10800 as per planetary lines we were able to capture bottom.
Nifty Supply and Demand
Self Explanatory chart..
Nifty Time Analysis Pressure Dates
Nifty As per time analysis 28/31 May is Pressure date , impulsive move can be seen around these dates.
Nifty Weekly Chart
It was negative week, with the Nifty up by 8 points closing @10604 .As discussed in last analysis Now bear need to break 10555 for the move to continue towards 10512/10461/10410. Bullish above 10666 for a move back to 10720/10777.
10417 done as we took support at gann angle, Now bulls need to close above 10610 for a move towards 10666/10730/10800. Bearish below 10555 for a move back to 10480/10420.
Trading Monthly charts
As discussed in last analysis Bulls will get upperhand above 10785 for May Series.
10785 gone and bears pushed index down by 300 points. Coming week 10785 will play crucial role
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:10610
Nifty Resistance:10666,10730,10785
Nifty Support :10555,10480,10420
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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