Nifty Technical Analysis For Week 15-19 July

Last week Nifty opened gap down and did our all three targets on Tuesday only. The index ended the week with 258.65 points loss.

In the coming week, Nifty is approaching the Fixed time cycle date.

Nifty Hourly Chart

On the hourly chart, Nifty Bulls need to trade above 11655 for a further rise towards 11705/11770 levels.

Nifty Bears will get the chance only below 11540, for the move towards 11490/11420 level.

Nifty Daily Chart

On the Daily chart, Nifty bulls need to close above 11600 for a further rise towards 11655/11770 levels.

On the lower side, a close below 11461 last week low will add more weakness in the index.

Nifty Weekly Chart

Nifty Technical Analysis For the Week 15-19 July

Last week in this section of Nifty technical analysis for week, we discussed: 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.

Bears played well and dragged the Nifty almost 3% down, But now bulls can bounce back.

For thoroughly reversal Index need to hold 11450 on a weekly basis. Multiple confirmations suggest we may see the Pivot (Support) around 11450.

In the forthcoming week, 16 & 18 July are the critical dates.

Nifty Weekly Trading Levels

Next week 11600 will act as Resistance above which move towards 11655/11720/11810 can seen.

While Support is likely to come at, 11450 below that move towards 11400/11340/11250 can be seen.

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