Nifty Weekly Analysis for March Expiry

Last week we gave Chopad Levels  of 8595  Nifty did not reach chopad levels for most part of week and it did on Friday and did 1 target on downside.  Lets analyze how to trade next week which is also Expiry for March Series.

 Nifty Hourly Chart

Nifty Hourly charts is near its trendline support and trading well below 21/34 EMA, and is entering the demand zone and should be used by traders to cut down shorts. 8500/8470 is demand zone. As mentioned last week If we draw 16x1 gann line as shown in above chart support comes in range of 8542-8555 Nifty. Low made was 8553 on Nifty

 Nifty Hourly Elliot Wave Chart

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