Will Sell in May and Go away hold true, Weekly Analysis

Last week we gave Chopad Levels  of 8286 , Nifty did 2  target on downside and rewarded Chopad followers.  Lets analyze how to trade market in coming expiry week.

Nifty Hourly Chart

Nifty Hourly charts has broken on downside and below  its 21/34 EMA, till 8309  is not broken trend remains on downside. We are also entering supply area as shown in above chart.

Nifty Hourly Elliot Wave Chart

8120/8140 will play a vital role in coming week, Holding the same we can see 8250/8309 and above it nifty can move to 8065/7965 range.

Nifty Pyrapoint Analysis

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