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Nifty Weekly Forecast after Historical Rally

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Last week, below weekly support, Nifty achieved all three weekly targets. Later in the week, the Index moved above the weekly resistance level and achieved all three objectives on the upside.

In the previous week, we also discussed that Nifty is approaching the Critical Fixed Time Cycle period.

The effect of the Fixed Time Cycle period in Nifty triggers the Historical rise of 570 points in a single day.

On the hourly chart, bulls need to trade above 11315 to move towards 11410/11535.

The hourly chart shows that bears will have the chance to move towards 11090/10965 levels below 11185.

Last week, on the Daily chart, the first Nifty failed to cross the 11090 resistance level, causing its Index to fall nearly 350 points.

Later on Friday, Nifty broke the 11090 level and reached a high of around 11381 levels.

In the coming week, Nifty bulls need to hold 11190 to continue the bullish sentiments of the last week.

The upside resistance will come around 11425; above that, we can see a further rise towards 11510/11650.

Nifty Weekly Forecast For the Week 23-27 Sep

We discussed this section of the Nifty Weekly Forecast last week. Nifty bulls need to break and close above 10185 to gain more, maintaining the short—to medium-term upside.

The previous week, Nifty managed to close above 11185 weekly. Now, bulls need to hold this level weekly for a further rise towards 11500/11650 levels.

In the forthcoming week, 25 & 27 September is the critical dates.

Nifty Weekly Trading Levels

Next week, 11425 will act as Resistance above, which moves towards 11500/11625/11770 can be seen.

While Support is likely to come at 11180, below that, a move towards 11100/10975/10830 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.