Last week Nifty made the low around 11800, and high of the week came around 11973. Both the high & low came close to our weekly Support & resistance level.
In the coming week, Nifty is approaching the critical Fixed Time Cycle period. The volatility can be high with quick turn around’s.
Nifty Hourly Chart
As per the Nifty hourly chart, Bulls need to trade above 12015 for the up move towards 12080/12190.
On the other hand, Bears will get strength below 11835 levels for the move towards 11770/11660 levels.
Nifty Daily Chart
On the daily chart, Nifty Index is trading in a range from the last couple of trading sessions.
In the coming day’s Nifty bulls need to trade above 12000-12025 range for a rise towards 12070/12200.
The Support on the lower side is around 11800, any close below that can trigger fall towards 11730/11620 levels.
Nifty Weekly Chart
Nifty Weekly Forecast For 18-22 Nov Week
Last week in this section of Nifty Weekly Forecast, we discussed. Nifty made the high around 12030 but failed to give a weekly close above 12025 resistance. In the coming week, bulls need to trade and hold above 12040 for a further strong upside move.
The last week was dull due to the short trading week. The levels on the weekly chart is still the same. Nifty bulls must break & hold above 12040 for substantial upside.
In the forthcoming week, 18th & 22nd Nov are the critical dates.
Nifty Weekly Trading Levels
Next week 12025 will act as Resistance above which move towards 12075/12160/12300 can seen.
While Support is likely to come at, 11850 below that move towards 11800/11715/11575 can be seen.
Note: Above mention price projection & other Information are for educational purpose only.