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Bank Nifty is moved in very narrow range today! High made today was 20681 and low was 20560, forming Doji candlestick on Daily chart. Daily RSI is still above support level of 65 and hence bounce back from this level is likely. Possibility of correction to 20400/20300 is also possible. Any close below 20400 on Daily basis would be bearish for Bank Nifty. Monthly chart shows possibility of further up move as Monthly close for Feb is above 20400, important Gann level for Bank Nifty as it is moving in 180 degree as per Gann Square of Nine Numbers. Bank Nifty 15-min chart is showing that corrective wave is terminating possibly in Ending Diagonal/triangle pattern and RSI is showing divergence. Correction may near completion or completed at 20560. Bank Nifty closed above 20591, hence up move is still on the card as long as daily close is above 20400.

LICHF looks like on Breakout if it sustains above 565 on daily closing basis. Post Nov up move, prices consolidated in the range of Gann Nos 518-565 in Dec-Jan. The correction pattern looks like triangular one. Post consolidation/correction price is trying to break resistance of 565. At present it is above 565 on daily close basis. Bollinger Bands(BB) are expanding and price is near upper BB and above/near Gann No 565 that increases chances of Breakout. Target 613(next Gann No of  90 degree move).

As expected Bank Nifty corrected today(I mentioned about possible correction in yesterday's post) to 20584. Daily/Hourly RSI is reached a level from where it took support 2 times. So possibility of completion of correction at 20584 is there. In case, this RSI level is broken then further downfall to 20480/20400 is on the cards.   Bank Nifty 5-min chart shows Index took support at Gann No 20591. 5-min RSI is showing divergence and triangle/ED like pattern is under formation. This suggests possibility of correction completion at 20584 as long as 20591/20584 is hold. If Bank Nifty breaks these levels then support is at 20480/20400 that should be hold for Bank Nifty to remain in ongoing Bullish Trend started from 17600. For upside move confirmation wait for Bank Nifty to cross 20710/20819.

Last week Bank Nifty sustained above 20400, faced resistance at 21000 level and closed above 20800 . This week Bank Nifty may consolidate or may correct up to 20700 before it again start its up move that may easily cross 21100/21800 and go up to 22500/23300 in coming weeks as weekly/monthly chart shows possibility of further up move as Bollinger Bands are expanding. Daily chart shows formation of Doji (Gravestone) candlestick pattern that suggest possibility of reversal or halt of ongoing bullish trend. Also RSI is in overbought stage. Hence, possibility of consolidation/correction is very high. Bank Nifty may correct to 20700, breaking 20700, it may further correct to 20480/20400. Break of 20400 will be bearish and it could be reversal of the Bullish trend started from Dec 26, 2016.

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.

Today I am posting where we need to avoid taking trade when Gann No is broken but possibility of further move is low. In today's trade around 11.45 am - 12.00 pm, Bank Nifty was trying to broke Gann level of 20933/20940 levels and was able to reach 20958. It was time when I tempted to buy CE, but certain observations on charts stopped me from going ahead and it proved right in next few minutes! Observe that prices on all 5-min candles showing reversal from top i.e. all candles have Doji pattern that suggest possibility of reversal if formed at top of trend. Though few candles closed above 20940, I had doubt in mind due to Doji pattern as well as Option prices not moving above its respective degree level. Take a look at following option price charts for 21000CE and 21100CE to understand I am trying to pointing out. In case of 21000CE it was candle pattern similar to what Bank Nifty had, Doji candlestick though price was crossing desired level of 57(45 degree movement o

Bank Nifty opened 70+ points Gap up at 20937, and reversed immediately as this was zone of Gann Nos 20933/20940 (5/4 digit Gann Nos). This zone provided stiff resistance today and Bank Nifty reversed after making high of 20958. It seems that some Top is made at 20958 and corrective wave is in progress. Wave A/1 is completed at 20829 and wave B/2 is completed at 20902 that looks a Flat correction! Expect Bank Nifty to come down to complete wave C/3, target would be around Gann No 20710/20700(Confirmation only after break of 20819). Break of 20700 and holding below that make take Bank Nifty to 20500/20480.

I am posting here a today's trade in option where use of Gann numbers in both Bank Nifty levels and Option price gave excellent trade! The various Gann Nos (4/5 digit) in between 3 digit Gann nos of 20400 & 21100 are (20478-20480)-20591-(20705-20710)-20819-(20933-20940)-21046 Yesterday Bank Nifty bounced back from 20480 (Low was 20472) and faced resistance at 20591 and then moved up to 20700. Today morning it reversed form 20700/20710 level and made low of 20619 and then moved up again. I was waiting for Bank Nifty to break 20710 for target of 20819/20940. When Bank Nifty broke 20710, it moved very quickly to 20900 just 40 points short of 20940. Here is chart of bank Nifty 5 min chart with Gann Levels. When Bank Nifty broke 20710, I bought 21000 CE for Rs 13. This option has 45 degree movement. It moves from 1-3-7-13-21-31-43-57 i.e. Gann series for 45 degree. I put Stop Loss (SL) as Rs 10 just Re 1 below 11, lower Gann No from 180 degree series. When

I  am posting Gann Numbers those will be useful for Bank Nifty/Dow Jones. 3 Digit Gann Numbers 36100 28900 22500 16900 12100 35200 28100 21800 16300 11600 34300 27300 21100 15700 11100 33400 26500 20400 15100 10600 32500 25700 19700 14500 10100 31600 24900 19000 13900 9600 30700 24100 18300 13300 9100 29800 23300 17600 12700 8600 28900 22500 16900 12100 8100 4 Digit Gann Numbers 24010 22090 20250 18490 16810 15210 23770 21860 20030 18280 16610 15020 23530 21630 19810 18070 16410 14830 23290 21400 19590 17860 16210 14640 23050 21170 19370 17650 16010 14450 22810 20940 19150 17440 15810 14260 22570 20710 18930 17230 15610 14070 22330 20480 18710 17020

Bank Nifty moved up in the last 2 hours making top at 20903 and closed at 20860. Bank Nifty moved quickly once it crossed Gann No 20710(Gann 5 digit No). It closed above another 5 digit Gann No 20819. So possibility of further up move is high. It may reach 21000/21100 in tomorrow's session. 21100 is 3 digit Gann no and hence Bank Nifty may face some resistance at that level. Breaking 20700 may lead to 20400 level. Inside Pitchfork: IP is showing target of 21100 as its upper 1 SD line is in that range. Downside target at 0.5 SD upper line is 20300.

Bank Nifty today moved in very narrow range between 20472-20702. It closed at 20677. Holding 20480/20500, Bank Nifty can reach 21000 in coming 2-3 trading days. Bearish below 20400 for target of 19700.

Bank Nifty opened massive Gap up (674 points) after moving in narrow range for almost 7-8 days! The high was 21042 and it gave up major gains of the day and closed at 20551 registering low of 20449. Holding 20480/20500 Bank Nifty can move towards 21100/21400. A daily close below 20400 may take bank Nifty to 19700/19500 levels.  Inside Pitchfork: IP is showing that holding 20500 Bank Nifty can move to 21000. Below 20500 it can move down to 19700. Gann Time & Price Square: As per this analysis, Feb 17 and price 21020-80 is a price-time square possibility(Bank Nifty achieved high of 21042 on Feb 17 and reversed sharply). Hence possibility of 21042 being a Top is  quite high. It may be short term top till start of new solar cycle on Mar 22 or could be Mid term top that may be protected for next few months.

Dow Jones is moving up continuously and surprising everyone! Let us take a look at it. Dow Jones is moving in 45 degree 15700-18300-21100.  From start of  2014 to US election results it moved in the range of 15700-18300. It was consolidated near 18300 for almost more than 6 months before US election results due to uncertainty of Election outcome! Post result it is just fired up and moved from 18300 to 19700 in a very short time and again consolidated taking support of 19700 (3 digit Gann No). Post start of Minor Solar cycle on Feb 4, it is again moving up in very sharp manner and already crossed Gann level of 20400. It may reach 21100 in next few weeks as long as it holds 20400. It may face strong resistance at 21100.

Bank Nifty is stuck in the range. It is moving between Gann Nos 20364 (5 digit Gann No) - 20250(4 digit Gann No)- 20139 (5 digit Gann No). Till it cross 20000 on downside or 20400 on upside no trend can't be confirmed. The today's low is exactly on lower line of triangle and it bounced and reached again to upper line of triangle. Until it breaks this triangle and 20400/20000 no good trade opportunity available. But triangle is getting narrower and narrower and hence a outbreak move is shortly on card (1-2 days). Also new minor Solar cycle started on 4th Feb, hence Trend deciding move is on card and it will be fast and furious.

Bank Nifty today move down sharply after opening Gap up and making Top of 20368 just near Gann No 20364 and reversed sharply making Low at 20115 and closed at 20163. It seems wave B is completed at 20368 and wave C is started (confirmation only when Bank Nifty crosses 20000). We may see bank Nifty moving sharply to 19700/19500. Daily chart shows RSI crossing 70 level from top that shows possibility of down move. Also Bank Nifty broke lower channel lines (Blue as well as Red). So Bank Nifty may fall sharply in wave C.

Vedanta: Vedanta completed correction at 245 level that ended in wave c terminating in Ending diagonal(Can bee seen in hourly chart). Vedanta is bounced back from 249 (Gann Level) today and now may quickly reach next 90 degree Gann No, 281 as it is moving in 90 degree. Tata Motors: Today Tata Motors fall due to bad results. It was trading below 518 for last few days and today crossed next 90 degree Gann level at 474 and now may go to 431 in short time.

Nothing new in Bank Nifty movement. It is moving in the range 20100-20300 for last 3 days! Unless bank Nifty breaks these levels (Also triangle pattern), it will remain range-bound. The next impulsive move would be fast and furious as it is in narrow consolidation for quite long time.

Bank Nifty is still moving in a range of 20300-20100. It looks like wave B of A-B-C is in progress where  sub wave (C) is in progress. Post completion of wave B, Bank Nifty should come down to complete wave C. Or wave X might have completed at low of 20003 and Bank Nifty may move up. Any move above 20400 can take it to 20900/21000. A move below 20000 will lead to 20700/20500. Gann Date : Today is 144th calendar day from Top of Sep 22, 2016. So it will be interesting to see whether there is any mid term Top/Bottom forms today!  

Bank Nifty is facing resistance at 20400. Let us analyze what is in store for next week! Bank Nifty formed Doji on Daily chart that signifies uncertainty! Break above 20400 on Daily chart (Daily candle close) will take Bank Nifty to 21000/21100 level. On downside break below 20000 on Daily chart will take it to 19700/19500 levels. Hourly chart shows Bank Nifty bounced from lower channel line (Blue color). Holding 20100, Bank Nifty can move to 20500/20700 in next few tradings sessions. Break below 20000 will take Bank Nifty to 19500/19400 level. Inside Pitchfork: IP shows a Daily close above 20250 can take bank Nifty to 21000. Staying below 20250 can lead to 19500. New minor time cycle will show its effect and this week Bank Nifty will decide Trend for next few weeks.

Bank Nifty corrected sharply today to 20000 post Ending Diagonal termination of up move. Hourly chart shows, post termination of up trend in Ending Diagonal, Bank Nifty fell sharply to 20000 from where ED started. Bank Nifty is now in correction and post completion of correction it will fall down sharply to 19500 from where last up move started on Budget day. The likely moves are shown by arrows. expect B ank Nifty to move in similar fashion. Inside Pitchfork: IP is showing reversal and Bank Nifty came back below upper 0.5 SD line. The median line is around 19400. So immediate downside target is around 19500/19400.  So Buying weekly Put option of 19700/19500 (Feb 16) would give very good returns tomorrow.  Solar Cycle: I mentioned about new minor Solar Cycle start on Feb 4 and how it would affect markets. It seems that Up trend is reversing and a Top is in place near 20400 level. Also 20400 is strong resistance and very important 3 digit Gann No. Yesterda

Post RBI decision on rate cut, Bank Nifty corrected to 20070 and bounced back . It is not surprising that even after bad news of no rate cut, it bounced back from low and closed at 20245. But now it is at crucial juncture of 20400. So it is now case of a make or a break for Bank Nifty! Why? Let us understand from following chart: Chart shows from Sep 07 top(20576), Index moved to 17600 between  a major solar cycle (Sep 22 to Dec 22). The nos 204(00) and 176(00) are important levels as they are consecutive Gann Nos of 180 deg (176 & 204) Post low of 17600 (on Dec 26, close to Dec 22 cycle start), Bank Nifty moved up so quickly that it reached back to 20400 even before start of minor cycle (Feb 4) and now facing resistance at 20400. So if it not able to cross 20400 convincingly and hold above it, Bank Nifty may slide to 19700/19000 and may even go back to 17600 very sharply. So next 2-3 days would need caution if Bank Nifty struggles at 20400  level. If it breaks 20400

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.

Bank Nifty started new time cycle with Gap Up opening at 20307(100+ points) and moved further up to 20462. But corrected to low of 20298, but recovered to close at 20371. So Bank Nifty did not fill Gap up level and closed above Gann level of 20364. Bank Nifty 15 min chart shows RSI level of 50 as support and 80 level as resistance. So we may see further upside move as RSI is bounced from 50 level. Also MACD is showing reducing downward momentum. RBI monetary policy meet is on Feb 8 and till then market may move up in this manner (Up move and then small correction and then again up move). Bank Nifty closed just above above 20364, Gann level, and hence Gap up opening is likely tomorrow. Bank Nifty may face resistance at 20576, TOP of Sep 07, 2016. If it cross that, Bank Nifty may reach 21000 in this week. Bank Nifty Invert Chart: Our mind is more comfortable seeing down movement and hence Invert chart gives some better understanding. Bank Nifty is moving along Upper BB (here i

Last week Bank Nifty moved fast on Budget day and continued to move up slowly for next 2 days. Let us analyze what is in store for coming week/s for Bank Nifty.  Solar Cycles: This week a new Minor Solar Cycle is going start (From Feb 4).   For Major Cycle starting Sep 22, 2016 to Dec 22, 2016 we saw down move of more than 2800 points while there was very volatile moves during start of minor cycle started on Nov 7.2016 due to events (Trump Victory & Demonetization). We also saw reversal in trend from cycle starting Dec 22, 2016(reversal happened on Dec 26). The change of cycle saw a sharp up move of 2600 points. Now It will be interesting to see what happens when minor cycle starts this week. Whether market continues its upward trend or reversal takes place? We can also observe that very often Bank Nifty had sharp moves on the 1st trading day of start of New cycle. So Feb 6 can show us some big move! So in a nutshell this week will decide trend for next few weeks (up to