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Nifty Weekly Analysis 18-22nd May

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Last week above 9400, Nifty reached none of the target on the upside. Then Index went below 9170 support & hit the low around 9040, does the second target on downside side. The Index ended the week with 114 points loss.

As per the Nifty weekly analysis for the coming week market is approaching towards the minor cycle which we already discussed in last week analysis.

In the forthcoming week, 19 & 22 May is the Important Gann dates.

Nifty Gann Angle Chart For Weekly Analysis

Nifty Weekly Analysis Levels

Next week, 9260 will act as Resistance above, which moves towards 9320/9400/9590 can come.

While I expect support to take place at 8980 below, that move towards 8920/8840/8650 can be seen.

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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.