Weekly Range for Nifty is marked on the Charts.
Credit Spread Strategy can be deployed accordingly.
Disclaimer: All charts are for educational purpose. Please comsult your financial advisor before investing.
NIfty is trading @11378
Trend is still sideways to positive.
Please find the levels on the chart for next week
On downside there is a support @11230
(11085-11125) / (10950-10980) are the demand zone
On upside there is a resistance @11495
(11615-11695) is the supply zone
As I have mentioned in my pervious Nifty Post, Still Nifty is trading in the wide sideways zone. Sideways zone is most difficult to trade because it gives both side moves.
Strong Demand Zone @ 10800-10880.
Strong Supply Zone @ 11400
11250 to 11400 is a Sideways to Positive trade zone.
11050 to 11250 is a Negative Trade zone.
below 11050 is a Strong Negative...
Nifty is trading @11214.
- There is a supply zone above this level @(11252-11290) if it manages to sustains this level then go for the target near 11380 level.
- If it fails to sustain the level of 11200 then go short for the target near 11115.
- If nifty didn't sustain 11100 level then go short for the targets of near about 11030 level as there is a demand zone...
1st Bullish Sign if Nifty will give daily close or sustain above 11200. In this case Nifty may test its next Major Supply Zone @ 11300. and in any case If it will manage to sustain above 11300 then it my test its next Supply Zones @ 11350-11450.
There are multiple Demand Zones between 11050 to 11200. In any case if it will give daily close or sustain below 11200...
Last week Nifty consolidated between (11000-11300) range.
It is expected to remain in the consolidation phase this week.
Levels are mentioned on the chart.
On up side 10400 will act as a resistance and if it sustains then might give move upwards to (10540-10600)
On down side 11000 will act as a support.
(10855-10900) & (10680-10745) are the key levels
Right now Nifty is trading in the no trade zone.
There are two important level for the Nifty: 1st: 11200 and 2nd: 11050
Importance of 11200 level : In intraday if Nifty will trade above 11200 but not above to trade or sustain above 11250 then I will consider this as a fake upside move but in intraday if Nifty will sustain above 11250 and give close...
Nifty trading @10930.
Probably nifty will open gap up or flat on monday.
Major key levels are mentioned on the charts.
Next supply zone will be (11078-11167) with the resistance @10985
On downside there is key Demand zone @(10228-10390) with the support @10550
My pervious Nifty's post title was: " Avoid Short Trade in Nifty"
As I have mentioned in that post Nifty made low near 10750, took support from it's demand zone and closed at day's high near its supply zone.
My Next Week view:
--- According to the demand and supply zones, Nifty closed near it's supply zone @ 10925-10985. So whenever it will sustain above this...
Please find the levels on the chart.
Nifty trading in very tight range.
10700-10850 is no trade zone.
Wait for confirmation to go long or short on either side.
If nifty sustains above the level 10850 then only go long.
If it sustains below 10700 levels then only go short.
On each stage distribution and advancing stage is clearly seen in the chart.
On upside we may see nifty touching 11200-11300 levels in upcoming days.
Go short only below 10100 levels after the confirmation of trend reversal as the downside is looking limited as this point of time.
Why I have mentioned that "Don’t try to predict the stock market" because last week I have updated my Nifty Weekly Post on Saturday and SGX Nifty was down by approx more then 100 points. But my trading setup was saying different story. I posted "Nifty: very less probability to break or sustain below 10000" and finally Nifty closed on the week's high.
Nifty is trading near 20 moving average.
It might be the sign of reversal for next week's expiry.
If nifty sustains above 9500 level then only take long position for the 14th may.
On downside there is support @8400 level and strong support @8000 level.
NIFTY close @ 9250. On the upside, there is a major supply zone near the 10000 levels.
And on the downside, there is a major demand zone for this week near the 8800-9000 zone.
Below 8800 next demand zone @ near 8500.
NIFTY WEEKLY CHART ANALYSIS
-SINCE 9TH 2017 OCT 9950 HAS BEEN A CRUCIAL SUPPORT FOR THE INDEX QUIET A FEW TIMES
-REMEMBER HIGHER THE TIME-FRAME STRONGER IS THE SUPPORT/RESISTANCE
-WE TOOK LOT OF TIME TO BREAK ABOVE 9950 INITALLY
-BUT SINCE OCT OF 2017 WE HAVEN'T GONE BELOW IT
-DUE TO THE PANDEMIC THE LEVEL WAS FINALLY BROKEN IT TRAPPED SOME SHORT PLAYERS