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Classic Example of Using Gann Nos for Option Trading-Part 2

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 option). In case of 21100CE prices did not reach 34 level(90 degree movement option).

Hence, it was best to avoid trade though Bank Nifty breached Gann Level and Option Price also broke desired Gann level.
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