Nifty Weekly Expiry Outlook for 14th July 2022

Let’s start this expiry outlook with analysis of: Monthly, Weekly, Daily, Hourly time-frames.

Monthly time-frame –

Past Analysis 

• June month candle has broken the major support zone of 15700, but recovered from the lows of 15200.
• Monthly time-frame indicates a bearish hold in the market, however there is support from 15200 levels, 16800 being major resistance.

Now what

• July month monthly candle is an Inside bar for June month bearish candle. On a monthly timeframe indecisiveness is the state for nifty.

Weekly Time-frame –

Past Analysis

• After getting resitance from 16800, In last two week bears gripped the market with full power, broken the major support zone (15700-16000). However, in last week, Nifty got supported from 15200 level closing in green. 
• Past weeks candle indicates indecisiveness in market, last week has been very volatile, gave no cues about future direction. For this week, 15900 will act as major resistance zone &15500-15700 being major support.

Now what

• This week candle has been bullish, from the lows of 15500, nifty is now trading above 16200.

Daily Time-frame Analysis –

Past Analysis 

• From 15200 level it bulls gathered their power to take market again up to 15700 level where market is trading with volatility in complete last week.
• In Past weeks, Bulls has broken 15700 level, but still there is no followup move upside, Nifty has been trading in tight range of 15700 – 15900 in past week.

Now what

• In this week, Nifty was trading with higher high higher low formation, indicates a bulllishness in Daily timeframe.

Hourly Time-frame Analysis –

Past Analysis

• In past 5 days market been trading in tight range of 15700-15900 zone.
• On Friday, bears broken 15700 level but bulls pulled it again back to 15700 from the lows of 15500.

Now What

• Nifty is making gap ups in last days but, trading in tight range. However trend is bullish.

Concluding Analysis:

• At 15200 But tried to fight and took Nifty to 15700 level.
• 15700 acted as resistance for Bulls. However from 15200 Nifty was moving up with lower high lower low form. 
• 15700 has been broken by bulls, from there it went upto 16000 level
• In past few days nifty broke 16200 level which indicates bullishness in market.

So important levels to watch:

Support & Resistance Zone

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