Nifty P&F (Wk 1207-1907) - Reached mid-term resistance line, profit booking to be expected

Recap:

Test of faith would have wonderfully worked, nifty bounced back from the channel bottom. While we expected 6750, it happened at 6800 itself. Nice 1400 pts movement from there.

Weekly Analysis:



Daily Analysis:



Summary:

Weekly chart has BrRL & expected profit booking in mid term.
Daily chart also coincides reaching the VPO.
Hence, profit booking is solicited in mid-term. Long-term outlook stays bullish though.

Nifty P&F (Wk 1502-1902) - daily chart targets 6750, weekly chart support 6600

Recap:


It has reached the channel bottom.


Weekly Analysis:

Daily Analysis:

Summary:


Daily chart has a VPO target of 6715-6750.
Weekly chart shows long-term BlSL at 6600. VPO in the chart is 6450. I would guess this would be the ultimate support. Breaking these levels are really bad for real long-time.
This also gives us wonderful opportunity with a test-of-faith that these levels hold for long-term investment.

Nifty P&F (Wk 0802-1202) - the oscillating channel controlling the price movement, nice trade opportunity

Recap:


Though the range has broken 7500, still price is oscillating inside the channel with all the possibilities to break upside.


Weekly Analysis:

Daily Analysis:

Summary:


Daily chart indicating breaking 7615 would mean a break out of BrRL. On weekly chart 7000, is the support on BlSL.