Nifty Weekly Analysis 03-07 Feb

Last week below 12200 Nifty made the low around 11633, did our all the targets on the downside. The Index ended the previous week with 586 points loss.

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

nifty weekly gann angle chart
Nifty Weekly Gann Angle Chart

In the coming days, Nifty bears need to break and trade below 11530 for continuing the downside journey.

On the upper side, significant Resistance is around 11800, above that bulls will get some strength back.

In the forthcoming week, 04th & 07th Feb are the critical dates.

Nifty Weekly Trading Levels

Next week 11750 will act as Resistance above, which move towards 11800/11880/12050 can be seen.

While Support is likely to come at 11630 below that move towards 11580/11500/11330 can be seen.

Note: Above mention Price projection & other Information are for educational purpose only.

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.