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Nifty Weekly Analysis for 04-08 Nov Week

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Last week above 11685 Nifty did all the three weekly targets. The Index ended the week with 306 points gain. 

In the coming week, Nifty is approaching the critical fixed time cycle period. 

Nifty Hourly Chart

As per the Nifty hourly chart, Bulls need to trade above 11950 for the up move towards 12010/12100.

On the other hand, Bears will get strength below 11800 levels for the move towards 11740/11650 levels.

Nifty Daily Chart

As per the previous week’s discussion, Nifty bulls get the strength above 11677. We witness the one side rally in Index above the Gann Resistance level.

Now in the coming week, Nifty need to close above 11973-12010 Gann Resistance range. If fail to do so; then we may see some weakness & correction in the present ongoing rally.

Nifty Weekly Chart

Nifty Weekly Analysis For 04-08 Week

Last week in this section of Nifty Weekly Analysis, we discussed. We may see more upper levels in the coming days as weekly charts are moving in a specific set of vibrations. On the lower end, Support is still around 11330 below that only we may see short bearishness in the markets.

Nifty moved up towards more higher levels. It rewarded well to our Point to Point trading method students.

Now in the coming week, 12000-12025 is the most crucial range which bulls need to clear on closing basis for further rise.

In the forthcoming week, 04th & 06th Nov are the critical dates.

Nifty Weekly Trading Levels

Next week 11960 will act as Resistance above which move towards 12020/12100/12250 can seen.

While Support is likely to come at, 11800 below that move towards 11740/11660/11510 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.