The week gone by was decent for NIFTY TRADERS. Where we got good swing on both sides. The fridays action signaled a Temporary pause in long running uptrend. Because Friday was a!! Vibration!! Day the high and low would be considered as reference points for this upcoming week. But the pattern of NIFTY has its bullish tone intact. And it would even stay intact if NIFTY FALLS breaks the low of the friday.
In last week we had a target of 14620 once14450 was taken out. On Monday we broke 14450 on Nifty spot and achieved the target of 14620 on Wednesday. For this week 14510 would be an important Level to watch. Breaking this point would neutralize the negative setup and would take NIFTY to 14630. Conservative Traders should wait until Nifty breaks 14642 for fresh longs. Above 14642 Nifty could test the levels of 14810 and 14984 positionally. Avoid fresh longs until nifty breaks 14642 on spot. On flipside very strong support on downside is at 14240 which once breaks can test levels of 14075 and 13900 on spot in coming days.
On !! TIME!! front there are 3 Important TIME CYCLE days in upcoming week. Which is on 18th JAN ,20TH JAN and 21st JAN . In my post of last week I mentioned on 13years Cycle of Nifty running from JAN 2008. Using which we get the dates of 18th and 21st JAN. Hopefully you all turned the charts on Nifty and probably would had been understood the merit why these dates are Important. Another date which is 20th JANN this week which is significant for nifty is because it’s an anniversary date of the previous swing top of previous year. So upcoming week would be a time heavy week.
Views published above should be considered for Educational purposes. Any Trading Positions should be taken only after consulting your Investment Advisor. All views above are based on my understanding on Gann Theory. I had included all available technical methods which are part of Gann Theory to make my analysis more effective. So a retail trader not aware on Gann Theory would find it tough to understand this Trading System. For any help or guidance feel free to contact us. Regards Team Gann Price Time Analysis.
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