Nifty respected the levels of Gann. Last week Nifty found resistance near 8060 (high made 8021) & Nifty took support near 7715(low made 7723). So overall last week good points were earned with minimal stoploss. All the levels were mentioned very well in advance. And that too pin-pointed.
Next coming week we may see high volatility as one long term time cycle is going to complete, also RBI Policy will be coming. So at this time only level based trading will help to catch good points. Also trade with strict stoploss.
Major support levels are 7797, 7715-11, 7540, 7475, 7345, 7304
Major resistance levels are 7891, 7910-34, 7980, 8020- 8060-70, 8099, 8131, 8253-83, 8330-40 , 8433
A close below7540 may drag Nifty towards 7475.
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A close above 8100 may take Nifty towards 8253-83.
Short trade must be made if Nitfy Spot approaches this level of 8253-83.
A long trade may made if Nifty spot approaches this level of 7723-15-11.
Next coming week we may see high volatility as one long term time cycle is going to complete, also RBI Policy will be coming. So at this time only level based trading will help to catch good points. Also trade with strict stoploss.
Major support levels are 7797, 7715-11, 7540, 7475, 7345, 7304
Major resistance levels are 7891, 7910-34, 7980, 8020- 8060-70, 8099, 8131, 8253-83, 8330-40 , 8433
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| Nifty Spot Chart |
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A close above 8100 may take Nifty towards 8253-83.
Short trade must be made if Nitfy Spot approaches this level of 8253-83.
A long trade may made if Nifty spot approaches this level of 7723-15-11.
**Analysis given with mandatory disclosure given on site on 07/12/2014.
Please read it before taking any trading decisions.......
ReplyDeleteHey...Great information thanks for sharing such a valuable information
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