Skip to main content

Bank Nifty for Week Starting Mar 6

Gann Time Analysis

This week is important week as per Gann Time Analysis. This week is 26th from Top of 20576 made in Sep 2016. Also Last week completed 52 weeks from major bottom of 13407 made in Feb 2016. As per Gann Time Analysis these are important weeks for making Top/Bottom/Reversal. Hence, a Major mid term Top/Bottom can be expected this week that should be protected for few months. The reversal of Sep 2016 was 27 weeks from low of Feb 2016.
Daily chart shows Bank Nifty is moving in the range of 20400-21100 for last 2-3 weeks. In last trading session it bounced back from support of 20400 and hence it may again try to reach 20900/21000 level in coming week. A decisive break of 21000 and holding it for few days may propel Bank Nifty to further high 21800/22500. A break of 20400 support may take it down to 20000/19700.
On Monday break of 20567, Bank Nifty target will be 20710/20819. On downside break of 20471 Bank Nifty can reach to 20364/20250.

Labels:

Comments

Post a Comment

Popular posts from this blog

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...
Post a Comment
Read more

Intraday Index Options Trading by Degree Gann Number System ! E-book available on Amazon - Download FREE!

  For the next 3-days, E-book is available FREE for download! Take advantage of this promotion. Requesting to write a review on amazon. Download link:- https:// amazon.in/dp/B09DHFS5KJ
Post a Comment
Read more

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...
Post a Comment
Read more