Nifty Weekly Chart Analysis

Nifty Hourly Chart

Nifty Hourly charts 21/34 EMA have gone flat, trendline support exists @ 7784/7800  range, Bulls will get active above 7972 for initial target of 8100 and 8175.Bears will get active below 7784 for target of 7725/7655.

 Nifty Hourly Elliot Wave Chart

Hourly EW is showing correction can be seen till 7794 range and bounceback to 7940 range.

Nifty Price Channel

As per Price Channel concept Nifty is entering in zone of demand as seen in above chart holding the same upmove can be seen towards the highs of channel.

Nifty Daily Chart

Nifty daily chart is shown with both short and medium term trendline, next week is very crucial as any break of trendline can put a break to current bull run.

 Nifty Harmonic

Nifty daily chart bias is still in neutral zone so expect some range bound volatile move in nifty in coming week.

Nifty Daily Elliot Wave Chart

Daily chart are is showing 4 wave is still on completion around 7784/7655 and bounceback can be seen as part of 5 wave  till 8150/8200 in next 2 week.

Nifty Gann Date

As per time analysis 15 October is Gann Turn date , except a impulsive around this date. Now as 15 is Holiday so 13 or 16 we will see the expected move.  Last week we gave 07 Oct and nifty gave good correction on that day

 Nifty Gaps

For Nifty traders who follow gap trading there are 7 trade gaps in the range of  7000-7800

• 7067-7014
• 7130-7121
• 7276-7293
• 7229-7239
• 7454-7459
• 7526-7532
• 7598-7568
• 7625-7654
• 7924-7960

Fibonacci technique

Fibonacci fan

7841-7850  needs to be closely watched as per gann fan support.Resistance @ 8130.

Nifty Fibonacci Retracement

7784 which is 61.8 Fibo retracement levels needs to be watched closely in coming week.Holding the same we can see a good bounce till 7960 levels.

Nifty Weekly Chart

It was negative week, with the Nifty down by 85 points  closing @7859 . As per Harmonic Bias as seen in above chart, first time after 6000 and 31 week we are seeing trend change from Bullish to Neutral, so expect choppy/sideways move till the Harmonic Bias turn back to Bullish zone ie, Weekly candle turns back to green.Nifty is back again to AF support zone where it bounce back last time, need to see if we can bounceback this time also. New Time cycle will start from next week. 

Trading Monthly charts

Bulls saved 7950 on Monthly levels, also forming a spinning top pattern, Now as seen in above chart this month we can see a good upmove going by Historical pattern of this bull run.

 Nifty Weekly Chopad Levels

 Nifty Trend Deciding Level:7883

Nifty Resistance:7949,8026,8110

Nifty Support:7794,7726,7655