Nifty form Bearish Engulfing ,Weekly Analysis

Nifty Hourly Chart

Nifty Hourly charts with gann angles are drwan,Nifty took support @8×1 gann line and resistance lies @4×1 @8350. Break of 8057 can see move towards 8016/7961 odd levels.

Nifty Hourly Elliot Wave Chart

Hourly charts EW target comes @8016 and if held can see move towards 8300/8450

Nifty Pyrapoint Analysis

As per Pyrapoint Analysis able to sustain above its 90 degree line, suggesting move towards its 112.5 degree line which lies near 7961.Resistance @45 degree line @8232.

 Nifty Market Profile

Nifty as per market profile if unable to cross 8210 downside is still present. Bullish above 8210 for short term target of 8338.

Nifty Gunner

As per gunner nifty is still holding 2×1 gunner line if held bulls have hope for target of 8232/8338.

Nifty Harmonic

Nifty has completed the BAT pattern on downside.

Nifty Daily Elliot Wave Chart

As per EW more legs are left to the rally use dips around 8000/7900  to take exposure to quality large and mid caps stocks. NO leveraged positions this for cash market traders.

Nifty MML

Unable to cross 8126 short term target 7971. Holding above 8126 short term target 8281.

Nifty Gann Date

Nifty As per time analysis 08 June/10 June  is Gann Turn date , except a impulsive around this dates. Last week we gave 02 June/05 June Nifty saw a volatile move .

 Nifty Gaps

For Nifty traders who follow gap trading there are 14  trade gaps in the range of  7000-9000

• 7067-7014
• 7130-7121
• 7276-7293
• 7229-7239
• 7454-7459
• 7526-7532
• 7598-7568
• 7625-7654
• 7780-7856
• 7927-7974
• 8057-8089
• 8262-8271
• 8365-8391
• 8937-8891

Fibonacci technique

Fibonacci fan

Close at 23.6% retracement zone heading towards 38.2%

Nifty Weekly Chart

It was negative week, with the Nifty down by 318  points  closing @8114 , and closing below its 20 WSMA and above its 55 EMA. Nifty Weekly formed bearish engulfing pattern  on weekly charts. Nifty has seen lowest closing of 2015. Break of 8056 can see move towards 7997/7961/7910. Holding the low can see nifty moving intital move towards 8232 and 8310. As per time analysis next cycle till 14 June will be neutral to bearish. 

Weekly Gunner

Gunner weekly charts also suggests nifty moving towards green arc , unable to hold the green arc can see nifty moving towards the horizontal line.

Trading Monthly charts

Monthly chart broke 23.6 % retracement.

Nifty PE

As per PE ratio has again down  to 22.49, Result season finally showed effect and nifty corrected almost 5% from 23 odd levels.

Nifty Weekly Chopad Levels

Nifty Trend Deciding Level:8156

Nifty Resistance:8212,8291,8368

Nifty Support:8056,7961,7810