Last week above 11875 resistance level Nifty almost did our 2nd weekly target.
In the previous week high of the week came on 05th July, the Time Cycle date we discussed in our last week analysis.
The index ended the week with 22.3 points gains.
Nifty Hourly Chart
On the hourly chart, Nifty Bulls need to trade above 11900 for a further rise towards 11965/12040 levels.
Nifty Bears will get the chance only below 11790, for the move towards 11740/11670 level.
Nifty Daily Chart
On the Nifty daily chart, Nifty has hit the crucial Gann Price Time level. Any close below 11800 levels will trigger the further fall towards 11740/11670 levels.
Nifty Weekly Chart Analysis
Nifty Analysis For the Week 08-12 July
In this section last week, we discussed: Nifty fresh Breakout for long side is still waiting. Prices are making crucial changes on the weekly chart.
In the result of that Nifty has made the Short-term Pivot (Resistance) on the weekly chart.
Now the Bulls for short to medium term rally will get active only above 12010 weekly close.
In the forthcoming week, 08 & 12 July are the critical dates.
Nifty Weekly Trading Levels
Next week 11910 will act as Resistance above which move towards 11955/12010/12120 can seen.
While Support is likely to come at, 11790 below that move towards 11745/11680/11570 can be seen.
Note: Above mention price projection & other Information are for educational purpose only.