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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’s one critical Time Cycle in Nifty is reaching its point. Hence more volatile swings and quick up’s & down moves can be seen in the Index. 

Nifty Hourly Chart

As per the Nifty hourly chart, Bulls need to trade above 11570 for the up move towards 11640/11730.

On the other hand, Bears will get more strong below 11430 levels for the move towards 11360/11270 levels.

Nifty Daily Chart

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

In the next week, Nifty bulls need to hold 11460 levels for continuing the on-going rally.

Nifty Weekly Chart

Nifty Forecast For the Week 30 Sep-04 Oct

Last week in this section of Nifty Forecast, we discussed. Bulls need to hold 11185 for a move towards 11500/11650 levels.

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

For continuing, the further upside Bulls need the weekly close 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.

In the forthcoming week, 30 Sep & 03 Oct is the critical dates.

Nifty Weekly Trading Levels

Next week 11620 will act as Resistance above which move towards 11690/11790/11940 can seen.

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

Note: Above mention price projection & other Information are for educational purpose 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.