Welplace Portfolio Ready for another Upmove

Welplace Portfolio Update on Channel Chart. We covered this stock on Monday and Thursday
We were expecting to cool down from the up move after the move till 97 and Weekly Profit Booking came pushing the price of stock near the channel bottom.

Welplace Daily Chart with Channel

As seen in daily chart stock corrected from

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Bharat F Century Axis Bank Swing Trade

Bharat Forge

Positional Traders can use the below mentioned levels

Close above 946 Target 966/987

Intraday Traders can use the below mentioned levels

Buy above 946 Tgt

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Bank Nifty Weekly Forecast for 16-20 Jan

Last Week we gave Chopad Level 18300 Bank Nifty gave Short Entry on Monday but got stopped on Tuesday as Nifty opened gap up and low made was 18275 suggesting short need to cut  and Longs were triggered which were rewarded as Bank Nifty did the 3  target of 18740 thus rewarding Chopad Followers. New Time Cycle rewarded Bank Nifty Bulls as Bottom of this upmove was made on 09 Jan and from 10 Jan Nifty rallied 710 points in 4 days.

Bank Nifty Hourly

As discussed in last analysis Bulls need follow upmove above 18250 for a move till 18700, Unable to do so fall again till 17800/17400.
Now Bulls need a close above 19000 for a move towards

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Nifty Weekly Forecast for 16-20 Jan

Last Week we gave Chopad Levels  of 8256, Nifty gave Short Entry on Monday but got stopped on Tuesday as Nifty opened gap up and low made was 8261 suggesting short need to cut  and Longs were triggered which were rewarded as Nifty did the 3  target of 8432 High made was 8460 thus rewarding Chopad Followers. New Time Cycle rewarded Nifty Bulls as Bottom of this upmove was made on 09 Jan and from 10 Jan Nifty rallied 199 points in 4 days. Lets Analyze How to trade Nifty in coming week.

Nifty Hourly Chart

As discussed in last analysis   Coming week

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Nifty corrects from gann resistance zone,EOD Analysis

• FII's bought 1.7 K contract of Index Future worth 90 cores ,2.9 K Long contract were added by FII's and 1.2 K short contracts were added by FII's. Net Open Interest increased  by 4.2 K contract, so fall in market was used by FII's to enter long and enter shorts  in  Index futures. Do not Strike when Angry

As discussed in last analysis    As we have weekly closing tomorrow so bulls will be happy to close above the gann resistance zone as shown in below chart,bears will be happy to close below 8380. Close above 8440 can see next round of upmove towards 8555/8598. Bears below 8370 can move back towards 8270-8250 range. Nifty opened gap up made high of 8460 ,Low of 8370 and closed at 8400 so unable to close above 8435 levels and below 8370 levels. As seen in below chart took exact

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