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Nifty Forecast for 30 Sep-04 Oct Week

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Last week Nifty opened gap up. Due to that, no trade get the trigger. The Index ended the week with 238 points gain.

In the coming day, one critical Time Cycle in Nifty is reaching its point. Hence, the index can experience more volatile swings and quick ups and downs.

As per the Nifty hourly chart, the Bulls must trade above 11570 for the upmove towards 11640/11730.

On the other hand, Bears will become more powerful below 11430 levels as they move towards 11360/11270 levels.

On the Daily Chart, after a massive rally of around 1000 points, the Index is currently in consolidation mode.

In the next week, Nifty bulls must hold 11460 levels to continue the ongoing rally.

Nifty Forecast For the Week 30 Sep-04 Oct

We discussed this section of the Nifty Forecast last week. Bulls need to hold 11185 to move towards 11500/11650 levels.

In the previous week, Nifty achieved both targets on the very first day of the week.

To continue the further upside, the Bulls must close weekly above 11606. Otherwise, we can see a pullback towards 11340/11180 levels.

Any pullback near 11200-11150 can be an excellent buying opportunity (with strict Stop-loss) for 250/500 points gain.

The critical dates in the forthcoming week are 30 Sep & 03 Oct.

Nifty Weekly Trading Levels

Next week, 11620 will act as Resistance above, indicating a move towards 11690/11790/11940.

While Support is likely to come at 11460, below that, a move towards 11390/11290/11140 can be seen.

Note: The above-mentioned 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.