November 2016

Nifty Spot weekly Analysis (6 Nov 2016)

Ajeet Singh November 06, 2016 Charts

Nifty Spot

Huge volatility is expected ahead of US Elections

Here is past 6 months chart of Nifty Spot

Chart is showning Trend Decider Levels at 8400 & 8550

Nifty spot has taken support @ 8400 on friday & Closes @ 8433.75

So if breaks 8400 and closes below this level

then next supports are at 8285, 8240 and 8150.

Nifty Spot is facing Resistance at 8550

& Once if it breaks and closes above this level

then will try to move 8615, 8675 and 8735 levels

McDowell-N

This is MCDOWELL-N 1 year chart

See stock has broken strong support of 2118

and closes below the level

Now it considers supports at 1960,1920 and 1825

and at higher level, its facing resistances at 2120 & 2230

So if there comes higher levels then we can do shorts

for target of around 1500!!

Happy Trading !!!

Ajeet Singh November 01, 2016 Charts

Above posted is last 3 months chart for Nifty Future

For Nifty Future this week (i.e 30/10 - 4/11)

Trend Decider Levels are 8700 & 8545

Nifty 5th top line connecting around 8700,

Means……. stop of 8700 for shorts !!! yess

So if breaks & Closes above 8700….

Then will try to move 8750 & 8840 levels!!

Nifty down side have strong supports at around 8505-8545

Suppose if it does not takes support……….

then will slide up to 8420 & 8330 levels

So I recommend, traders must keep close eye on 8700 & 8545!!!