Nifty Weekly Technical Analysis for 04-08 Jan

In Our Last Analysis on 20 Dec we gave Chopad Levels  of 7717 , Nifty opened gap up and made low of 7733 near our  Chopad level of 7717,  Long Intitated on Monday were rewarded with  all three target done by Friday , Our last target was 7890 and Nifty made a high of 7889 .Lets analyze how to trade market in New Year 2016. Wishing all the readers of the Blog a very very happy and profitable new year 2016.

Traders should work on New Year resolutions and use the below 2 post for planning a successful and profitable 2016.
 Traders’ Resolutions for New Year-2016 
New Year Resolutions for Trading Success

Nifty Hourly Chart

Nifty moved perfectly in pyrapoint angles took support near the 225 line, holding it moved towards 180 degree line. 180 degree line resistance comes @7898/7892 so price action near this range should be watched.

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