Gann Price Time Square Analysis

Gann Price Time Square Analysis - Nifty Bank

I did lot of calculations on excel sheet for Price Time Square Analysis based on Swing Low of Feb'2016 (13407) and Swing High of Sep' 2016(20576) as well as Brexit Low (16946) and High-20576. Repeated calculations with taking Top of Sep 22, 2016 (20265) instead of Sep 7, 2016.

Some of possible/probable dates came out as follows:

Dec : 2, 6, 8, 13, 17, 18, 22, 31
Jan: 1, 5, 8, 14, 15, 18, 27, 28
Feb: 11, 18, 19, 23, 26
Mar: 6, 7, 11, 18, 29, 30, 31

There are more dates based on some other parameters. I will come to that later.

Let us focus right now on Dec.

We already saw volatile movement on Dec 2. Coming week we may see big/volatile moves as global events also lined up (Italy's referendum result on Dec 5/ RBI monetary policy announcement on Dec 7). So we may see movement from Dec 5 itself.

Dec 6 is major day as it falls on 90th calendar day from top of Sep 7 high(20576). As per Gann, 90/144 calendar/trading days from major top/bottom may see trend reversal. So let us see if some major short term level forms this week.

Also this week is important as per Gann Analysis. Gann stated 13, 17, 26, 35, 39 and 52 weeks period is important and trend reversal may happen during these periods(giving leeway of 1 week on either side). This is 13th week(Starting Dec 5) from High of Sep 7. The reversal of upmove started from low of Feb'2016 saw reversal after 26 week.

So be ready for some sharp/volatile moves and eventful week!

NB:Though I am right now calculating based on Top formed on Sep 7, 2016(20576), I have somewhere feeling that Top formed on Sep 22, 2016(20265) may give better result. I will explain that in next post.

Comments

Bank Nifty for Week Starting Jan 16, 2017

Last week Bank Nifty made big up move of 650 points. High made is 18966. It looks like it is ready for further up move. On hourly chart Middle BB line(RED color) is providing support and Index may again move up towards upper line of Blue Channel. The Best trading strategy is now to go Long when Index is bouncing from Middle BB line and Exit when it is near upper line of Blue Channel. Hourly RSI shows Resistance at 85 level and Support at 59 level. So Blue channel along with RSI levels are good indicators for trade. It is not good idea to go short as Up Momentum is strong. If Index breaks Middle BB line then only short positions should be taken. If Bank Nifty breaks 18850/18800 then we may see it reach quickly to 18650/18600. Also it may break RSI support level of 59 for major correction. We may see Index moving along Upper BB line (Blue color) on Daily chart. Index may face resistance at 19150/19200 level. If it crosses 19200 it can reach to 19500/197000. Daily RSI is

Bank Nifty EOD Feb 7 Update!

Bank Nifty is in consolidation/correction mode. Today it moved in a very narrow range and it seems that it is under time correction before a BIG move. It is awaiting RBI monetary policy decision due on Feb 8 and bank Nifty may make Big move on Feb 9 in either direction depending on market's reaction to RBI decision. Bank Nifty 15 min chart shows wave a and wave b completed and wave c is in progress. It may take triangle pattern of correction as uncertainty of event outcome is playing out. It may correct to 20250/20030 levels.

Hindalco - On the Verge of Break-Down?

Hindalco Daily chart is posted below: Daily chart shows prices are facing resistance at Gann level 183 and now prices are near lower band of Bollinger Bands(BB) that are expanding. Hence, a big fall is expected in next 2-3 trading sessions with target of next Gann level 157. Daily RSI is also broke 50 level coming from upside overbought 70 level that signals further fall in coming days.

MoneyNaad

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