Last week we did not share any weekly analysis, As per Historical
data Important Swing low and high are formed in 1 week of January so
keep a close eye on Nifty price action in coming week. Infosys results
will be declared on 9 Jan, this time the timings have changed to 12:30
PM. Lets analyze how to trade Nifty in coming week.
Nifty Hourly charts is approaching its trendline resistance @8410/420 crossing the same the up move will continue till 8484/8530 else we might /see pullback again towards 8350/8280 odd levels.
Elliot wave chart on Hourly is shown above suggesting upmove can continue further and 8480/8550 will decide further course of action.
Nifty Daily Chart
Nifty daily chart with Gann Box is shown above. Its heading towards green line resistance of gann box, crossing the same up move continues till 8500/8550, strong support @ blue line cmp@8351..
Nifty Ichimoku Kinko Hyo
Nifty Ichimoku Kinko Hyo has also generated a buy singal
As per EW more legs are left to the rally use dips to take exposure to quality large and mid caps stocks.
16 Jan are very important date as per Gann Embelm.
Nifty Gaps
For Nifty traders who follow gap trading there are 7 trade gaps in the range of 7000-7800
Nifty took exact support @ gann fan and now entering the resistance zone in range of 8420/8440
Crossed in 61.8% retracement of fall from 8628-7961 hence bullish in short term,follow upmove is required above 8420 for further confirmation.
It was positive week, with the Nifty up by 194 points closing @8395 forming a bullish engulfing candlestick pattern and trading in its uptrending channel . Weekly time frame as per Harmonic suggests Nifty is still in buy on dips mode . Nifty started the new time cycle with a positive week. Jan 5-6 are important dates as per time analysis hence price action needs to be closely watched.
2 Monthly candels are compared in above chart, if historical price action is to be repeated expect a bullish January.
Nifty Hourly Chart
Nifty Hourly charts is approaching its trendline resistance @8410/420 crossing the same the up move will continue till 8484/8530 else we might /see pullback again towards 8350/8280 odd levels.
Nifty Hourly Elliot Wave Chart
Elliot wave chart on Hourly is shown above suggesting upmove can continue further and 8480/8550 will decide further course of action.
Nifty Daily Chart
Nifty daily chart with Gann Box is shown above. Its heading towards green line resistance of gann box, crossing the same up move continues till 8500/8550, strong support @ blue line cmp@8351..
Nifty Ichimoku Kinko Hyo
Nifty Ichimoku Kinko Hyo has also generated a buy singal
Nifty Daily Elliot Wave Chart
As per EW more legs are left to the rally use dips to take exposure to quality large and mid caps stocks.
Nifty Gann Date
As per time analysis 06 Jan is Gann Turn date , except a impulsive around this date.Nifty Gann Emblem
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
- 7780-7856
- 7927-7974
- 8029-8084
- 8159-8208
- 8284-8288
Fibonacci technique
Fibonacci fan
Nifty took exact support @ gann fan and now entering the resistance zone in range of 8420/8440
Fibonacci Retracement
Crossed in 61.8% retracement of fall from 8628-7961 hence bullish in short term,follow upmove is required above 8420 for further confirmation.
Nifty Weekly Chart
It was positive week, with the Nifty up by 194 points closing @8395 forming a bullish engulfing candlestick pattern and trading in its uptrending channel . Weekly time frame as per Harmonic suggests Nifty is still in buy on dips mode . Nifty started the new time cycle with a positive week. Jan 5-6 are important dates as per time analysis hence price action needs to be closely watched.
Trading Monthly charts
2 Monthly candels are compared in above chart, if historical price action is to be repeated expect a bullish January.
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level:8416
Nifty Resistance:8465,8546,8627
Nifty Support:8340,8285,8214
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