DAX analysis for a client

DAX Index Analysis For upto Feb 29, 2020:

Daily chart shows prices are at Strong resistance zone at upper trend line (red color). On Friday (Feb 14, 2020) it formed a Doji candle that is a sign of reversal as it formed at top and at resistance zone. So correction or reversal from this level is very likely.

If prices cross above 13950 and sustains above then Breakout on upside is possible. But this looks very unlikely for at least few days as RSI indicator is also at resistance.

At present it is in no trade zone. Best scenario is to wait for price to break 13600.

Trade opportunities:

Long Trade: Above 13950 for target of 14300.

Short Trade: Below 13600 for target of 13450/13400 and below 13400 for target of 13100/13000

DAX Analysis for Swing Trade on Weekly Charts:

Weekly chart shows price is at multiple channels and trend lines resistance.

Trade opportunities: For few weeks or months holding

Long Trade: Above 13950 for target of 14300/14800 and break above 14800 targets are 15400/15500

Short Trade: Below 13400 for target of 13100/13000 and below 13000 for target of 12650.

Breaking 12600 it can give 11300/11250.

GANN Angle Analysis:

Gann Angles resistance and support summary based on weekly/monthly angles

Resistance: 14300/15400/1500

Supports:

Minor Support 1: 13500/13400

Strong Support 1: 13100/13000

Strong Support 2: 12100 Strong Support 3: 11500

Very Strong Support: 11100/11000

In summary DAX is at strong resistance and only breakout above 13900 can give good upside. Otherwise good trading opportunities can come on short selling.

Gann Angle based Swing Trade opportunities:

Long Trade: Above 13950 for target of 14300/14800/15400/15500

Short Trade: Below 13400 for target of 13000/13000/12100/11500/11100/11000

What Happened To DAX ?

This is where DAX came down.

Comments

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...

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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...

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