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

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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