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Nifty Weekly Forecast for 16-20 Sep Week

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Last Week above 10965 Nifty did our 1st target and missed the second target by 15 points.

The Index ended the week with 129 points gain. In the coming week, Index will be approaching the Critical Fixed Time Cycle period.

Nifty Hourly Chart

On the hourly chart, bulls need to trade above 11110 for the move towards 11165/11240.

Bears as per the hourly chart will get the chance below 10940 for the move towards 10875/10800 levels.

Nifty Daily Chart

As per the Daily Chart, last week Nifty bulls break the Gann angle line resistance (orange color) and gets the strength for upside.

In the coming week, Bulls need to break & trade above 11090 for maintaining the ongoing bullish tone.

On the lower side, critical support is at the level of 10940 below that we can see Index sliding towards 10800 levels.

Nifty Weekly Chart

Nifty Weekly Forecast For the Week 16-20 Sep

Last week in this section of Nifty Weekly Forecast,we discussed.For the coming week also we will stick with our 10750 levels as Support. The Resistance on the upper side is located around 11250 levels.

The market forces on the weekly charts are almost neutral at present. In the coming week, Nifty bulls need to break & close above 10185 for getting more maintaining the short to the medium-term upside.

In the forthcoming week, 17 & 20 September is the critical dates.

Nifty Weekly Trading Levels

Next week 11090 will act as Resistance above which move towards 11150/11225/11350 can seen.

While Support is likely to come at, 10940 below that move towards 10880/10805/10680 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.