Nifty Forecast for 12-16 August 2024: Key Levels and Trading Strategy – Bramesh’s Technical Analysis
As Discussed in Last Week Analysis NIFTY Trend Deciding Level 24615 with Mercury retrograde showing its impact.
Coming Week Market will react to hindenburg research report on SEBI chief which can lead to systematic problem in stock market and Mercury changing house and Bayer Rule 6: The price is in bottom when Mars was in 16 degrees 35 minutes of some sign and plus 30 degrees and “RULE NO. 38 MERCURY LATITUDE HELIOCENTRIC Some mighty fine tops and bottoms are produced when Mercury in this motion passes the above mentioned degrees” so another week of volatile move can be seen.
15 Aug is trading holiday.
Astro analysis can help identify trends and reversals in the market, and it can be used in combination with other technical analysis methods to improve the accuracy of trading strategies. Gann analysis involves studying charts and identifying support and resistance levels to pinpoint potential trading opportunities.
Nifty Harmonic Pattern
SHARK Pattern is forming with price can fall towards till 24000-23800 till holding below 245500.
Nifty Gann Angles
Price is heading towards 3×4 gann angle at 23800
Nifty Supply and Demand
Self Explanatory Chart
Nifty Time Analysis Pressure Dates
13 August is the Important Gann/Astro Date for coming week.
Nifty Weekly Chart
Price formed a perfect hammer at lows in weekly chart
Nifty Monthly Charts
25025 is Monthly resistance zone 24295 is Support zone.
Nifty Weekly Chopad Levels
Nifty Trend Deciding Level: 24312
Nifty Resistance: 24390,24467,24545,24622
Nifty Support: 24234,24157,24079,23992
Levels mentioned are Nifty Spot
As always I wish you maximum health and trading success
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