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Nifty Weekly Analysis 13-17th Aug

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Updated On:

As posted in last week’s nifty analysis: As we forecasted Important weekly Pivot Point Ahead, Nifty reacted, in the same way, & nifty corrected nearly 150 points.

Now, next week 11420 will be Resistance above which move towards 10480 / 10540 can be seen.11310 will act as Support below which move towards 11260 / 11200 can be seen. However, 11480 will be another Important weekly pivot point, near to that we can witness sell-off.

Nifty reacted in the same manner as analyzed in last week’s nifty analysis.

As we can see in the above chart prices obeyed our unique Gann angles, and above 11420 we saw the move towards 10495 & then we witness the sell from very near to our 11480 level, and as that was our already forecasted crucial weekly pivot point.

Now, for the upcoming week will use the below, Gann angles chart.

10368 will be significant support as below that we can see the move towards 10320, where price will meet the critical price point. If the market fails to hold 10320 level, then we can see a move towards 11260 and 11490-520 range will act as resistance.

Note: Above mention Price projection & other Information are for educational purposes only.

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About the Author

Divesh Jotwani is a Full-time trader in the Indian stock market. He has spent over 20+ years researching and discovering WD Gann's methods and applying them day in and out markets.