Nifty Weekly Support Resistance from 22nd Aug

As we have seen breakout in BankNifty in previous week we may expect the same

 in Nifty in coming week.

Last week Nifty Major Resistance was 8710/8750 Nifty failed to close above that.

So if Nifty sustain above the 8710/8750 we may see breakout for Target 8880.

otherwise Nifty may Test 8470 and more be cautious.

On 31st July report mentioned that be cautious as Nifty almost complete

 the reaction  of downfall 8294-7927.From 31st July to till now Nifty was in

time correction.

We may expect a breakout or breakdown of the range in coming week.

If Breakout above 8710/8750 and sustain then watch

Conservative  level -8880

Extended  level -8950

Support-8590-8500

 Note-This above is my personal view for Educational Purpose Only.Read Disclaimer.

 

Nifty Weekly Gann Analysis from 16th Aug

As per previous weekly report as we have seen breakout above 8710 but unable

hold to cross immediate resistance 8750 for good upmove. Then break Balance

point 8625-8640 but  again protect the previous Balance Point 8510.Broadly

 Nifty move in between 8510-8625-8710 with due respect to 8460-8470

 as per our previous report.

What Next???

As Nifty moving in between two balance point 8510-8625 then we may expect

breakout this time above 8710 and hold if not then 8460/8470 may touch.

weekly Support-8590
weekly Resistance-8710/8750
Positional Resistance-8880-8950

Note-This above is my personal view for Educational Purpose only.Read Disclaimer.

Nifty Weekly Demand supply from 8th Aug

As discussed in earlier weekly report that Nifty should respect 8460/8470 hold

 the breakout upper level 8460 for upside.

Again discussed that if the above is not holds good then from balance point

8625-8640 nifty to and fro.Nifty achieved our 1st target 8590 and previous balance

 point 8510(Nifty low made 8518).Nifty taken support before our previous Balance

point 8510 and Bounce to closed above recent balance point 8640.

What Next???

As Nifty closed above the Balance point 8625-8640 then upper side immediate

Resistance at 8710-8750.

To complete harmonic pattern above 8710 Nifty may touch 8880. Consecutive trade

 Below 8625 nifty may drag to 8460/8470.

Resistance-8850/8880-8950

Support-8610/8590

Note-This above is my personal view for educational purpose only.Read Disclaimer.