In the last Nifty Weekly Analysis post, we discussed. The Index is soon going to reach one of its critical Time Cycle points. Hence we can see a trend change and volatile moves.
The Nifty Cycle analysis rewarded us quite well. After the mammoth rally of 1025 points in September end, we saw the correction of around 600 points.
Nifty Hourly Chart
As per the Nifty hourly chart, Bulls need to trade above 11363 for the up move towards 11425/11515.
On the other hand, Bears will get more strong below 11190 levels for the move towards 11130/11040 levels.
Nifty Daily Chart
In last week Index made the low near to the critical Gann angle line and we got the bounce.
As per the Daily Chart, bulls will get strong only above 11420, and bears will again become dominant below 11130 only.
Nifty Weekly Chart
Nifty Analysis For the 14-18 Oct Week
Till Nifty is not giving any weekly close below 11170 bulls are in balance position, and weekly close above 11580 will add more positive action towards the upside.
In the forthcoming week, 14 & 16 October is the critical dates.
Nifty Weekly Trading Levels
Next week 11370 will act as Resistance above which move towards 11430/11510/11650 can seen.
While Support is likely to come at, 11240 below that move towards 11180/11100/10960 can be seen.
Note: Above mention price projection & other Information are for educational purpose only.