Gann Series - Nifty Bank

These levels will of great help for Trade Set Up. They provide good Entry, Exit, SL(Support/Resistance) levels.

		3 Digit Gann Series
	22500	16900	12100
	21800	16300	11600
	21100	15700	11100
	20400	15100	10600
	19700	14500	10100
	19000	13900	9600
	18300	13300	9100
	17600	12700	8600
	16900	12100	8100

		4 Digit Gann Series
22090	20250	18490	16810	15210
21860	20030	18280	16610	15020
21630	19810	18070	16410	14830
21400	19590	17860	16210	14640
21170	19370	17650	16010	14450
20940	19150	17440	15810	14260
20710	18930	17230	15610	14070
20480	18710	17020	15410	13880
20250	18490	16810	15210	13690

		5 Digit Gann Series
19360	18490	17640	16810	15309
19251	18384	17536	16709	15111
19143	18278	17433	16509	14921
19034	18171	17329	16309	14731
18925	18065	17225	16109	14541
18816	17959	17121	15909	14351
18708	17853	17018	15709	14161
18599	17746	16914	15509	13971
18490	17640	16810	15309	13781

Take a look at following chart. On Dec 2, The prices bounced back from level of 18171(18165) and quickly reached 18490(18489) and again reversed sharply. Today, on Dec 5, 18278/18280 level acted as resistance. Once it is broken prices move to 18384 level, paused and again moved up.

On Nov 30, it reversed from level of 18710(18713). All these levels I marked in RED.

So we expect Bank nifty to touch 18710 Tomorrow and if it breaks that level then 18925/930 with some resistance at 18816(marked in BLUE).

Comments

VIX Analysis

The daily VIX chart shows the formation of Doji candles at the bottom and reversal. The daily RSI crossed the previous resistance level of 40. The MACD signal gave bullish crossover suggesting bullish move in VIX. So the daily chart shows the possibility of VIX moving towards 28 levels in the coming days. The weekly chart shows the formation of wedge and reversal from the bottom. VIX may move towards the upper wedge line @ 29-30. So VIX suggesting the bearish mood of the market and hence the high possibility of fall in Nifty-50 and Banknifty in the coming days/weeks. VIX Gann Box: The daily Gann Box shows a reversal from the mid-zone of time factor points. The next time factor date is Jul-21. So will VIX continue to move high till Jul-21 or it will reverse from angle point? Wait and watch. Using VIX to spot Intraday Reversal on Indices: VIX is a very useful indicator to spot reversal during day trade. If the price of an index moves up and @ resistance zone watch values of VIX. If VIX s...

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BankNifty Update For Jul-09,2020 - Weekly Expiry

Banknifty opened Gap up @ 22700 and then achieved all our bullish targets of 23900/23000. But the upmove was very choppy and looked like terminating pattern and was not easy to trade. So I did not take a trade on the upside. My observation was Banknifty good up (250-300 points) while Nifty was not at all moving up and was just 10-15 points up and VIX was increasing. That was a signal that there is a high probability of reversal. (I twitted this around 12.30 pm). Banknifty continued its upmove and VIX was not falling, so I was sure that reversal is on the card from the strong resistance zone of 23900-23000/50. In yesterday's post, I mentioned about daily RSI @ resistance. That was another reason I was expecting a high probability of fall after it moved higher levels to come to at least yesterday's close levels or below. I got down-trade from almost 23000 to 22700 (got out earlier as it was intraday and not much time left though I was expecting at least 22600. It gave a much lowe...

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