In the post of Dec 4, I mentioned about eventful week starting Dec 5 ( Obviously RBI policy event was scheduled). It was 13th week from top of Sep 7, 2016. So we have new LOW at 17953 near 5 digit Gann Level of 19759.
This post is about Time Analysis for Bank Nifty.
Following is image of equinoxes and solstices on earth.
These dates Mar 21/22, Jun 21/22, Sep 22/23, Dec 21/22 plays very important roles in the formation of major tops/bottoms of stock markets. Often a trend reversal happens around these dates. The other dates (Feb 4, May 6, Aug 8, Nov 7) also affects short term trend and a short term top/bottom may happen around these dates.
I mentioned in my Dec 4 post that I will consider the Top formed on 22 Sep, 2016 for Time calculations and reason is Sep 22 is Equinox date!
Take a look at Weekly Bank Nifty chart.
W.D. Gann mentioned about importance of 13, 17, 26, 35, 39, 52 weeks for reversal of major trend or Major Top/Bottom formation. These calculations are based on dividing 52 weeks by 8 and 3.
So 52/8 = 6.5 week. Hence 7 , 13, 20, 26, 33, 39, 45, 52.
Dividing 52/3 =17.33. Hence, 17, 35, 52 weeks.
So 7, 13, 17, 20, 26, 33, 35, 39, 45, 52 weeks. Bold one are given more importance.
Let us see whether these time factors worked well on Bank Nifty.
The bottom of Feb 29, 2016 is 57 weeks from top of Jan 2015. But If we take top of Mar 2015 (When Nifty also topped) we get bottom of Feb 2016 at 52 weeks.
Even for smaller time frame Mar 2015 top is in more sync than top of Jan 2015. The Bottoms of Jun 14, 2015 and Sep 7, 2015 are 14 (13+1) weeks and 27(26+1) weeks from top of Mar 2015.
From Feb 2015 bottom ,Sep 7, 2016 top is 27 weeks away.
If we take Top of Sep 7, 2016, then we have Trump Low at 9 weeks, if we consider Top of Sep 22, 2016, Trump low is at 7 weeks.
At 13 weeks from Sep 7 top we got RBI policy LOW. 13 weeks from Sep 22, is week starting Dec 19 that also contains Dec 21 i.e. Solstice date. Hence I consider this week as very important for markets and also for Bank Nifty.
So let us watch how things gets unfold for next 2 weeks!
This post is about Time Analysis for Bank Nifty.
Following is image of equinoxes and solstices on earth.
These dates Mar 21/22, Jun 21/22, Sep 22/23, Dec 21/22 plays very important roles in the formation of major tops/bottoms of stock markets. Often a trend reversal happens around these dates. The other dates (Feb 4, May 6, Aug 8, Nov 7) also affects short term trend and a short term top/bottom may happen around these dates.
I mentioned in my Dec 4 post that I will consider the Top formed on 22 Sep, 2016 for Time calculations and reason is Sep 22 is Equinox date!
Take a look at Weekly Bank Nifty chart.
W.D. Gann mentioned about importance of 13, 17, 26, 35, 39, 52 weeks for reversal of major trend or Major Top/Bottom formation. These calculations are based on dividing 52 weeks by 8 and 3.
So 52/8 = 6.5 week. Hence 7 , 13, 20, 26, 33, 39, 45, 52.
Dividing 52/3 =17.33. Hence, 17, 35, 52 weeks.
So 7, 13, 17, 20, 26, 33, 35, 39, 45, 52 weeks. Bold one are given more importance.
Let us see whether these time factors worked well on Bank Nifty.
The bottom of Feb 29, 2016 is 57 weeks from top of Jan 2015. But If we take top of Mar 2015 (When Nifty also topped) we get bottom of Feb 2016 at 52 weeks.
Even for smaller time frame Mar 2015 top is in more sync than top of Jan 2015. The Bottoms of Jun 14, 2015 and Sep 7, 2015 are 14 (13+1) weeks and 27(26+1) weeks from top of Mar 2015.
From Feb 2015 bottom ,Sep 7, 2016 top is 27 weeks away.
If we take Top of Sep 7, 2016, then we have Trump Low at 9 weeks, if we consider Top of Sep 22, 2016, Trump low is at 7 weeks.
At 13 weeks from Sep 7 top we got RBI policy LOW. 13 weeks from Sep 22, is week starting Dec 19 that also contains Dec 21 i.e. Solstice date. Hence I consider this week as very important for markets and also for Bank Nifty.
So let us watch how things gets unfold for next 2 weeks!
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