Last week above 11370, Nifty bulls got the strength and did all the three weekly targets. The Index ended the week with 356 points gain.
In the coming week, Nifty is approaching a critical fixed time cycle period.
Nifty Hourly Chart
As per the Nifty hourly chart, Bulls need to trade above 11715 for the up move towards 11780/11870.
On the other hand, Bears will get more strong below 11615 levels for the move towards 11550/11460 levels.
Nifty Daily Chart
As per the previous week’s discussion, Nifty bulls get more strength above 11420 daily chart levels.
Now in the coming week, Bulls need to close above 11675-11700 resistance zone for keeping the upside momentum in their favor, whereas the Bears will get the chance below 11530 for the move towards 11460/11350 levels.
Nifty Weekly Chart
Nifty Forecast for 22-25 Oct Week
Last week, in this section of Nifty Weekly Forecast, we discussed. Till Nifty is not giving any weekly close below 11170 bulls are in the balance position. A weekly close above 11580 will add more positive action towards the upside.
In previous week Nifty bulls managed to get close a 11580. So we can see more upper levels in the coming weeks.
The Support on the weekly chart now has shifted at 11330 any close below that will add short term bearishness.
In the forthcoming week, 22nd & 25th October are the critical dates.
Nifty Weekly Trading Levels
Next week 11730 will act as Resistance above which move towards 11790/11870/12020 can seen.
While Support is likely to come at, 11600 below that move towards 11540/11460/11310 can be seen.
Note: Above mention price projection & other Information are for educational purpose only.