BANK NIFTY 15 MIN GANN LEVELS CHART FOR INTRADAY 03/01/2024

Chart shows the price action on a clear downtrend in recent past. Observe on the chart 0.875 level of 48430.15. Gann in his viration theory has assigned the 87.50 percentage level as Death Zone. See the monentum on price action after breach of 48430.15 level. Break of 75% level at 48215.95 was confirmation of further fall on the index. Ideal target therafter was the most important 50% level of the range at 47774.45. Observe the price action near the level it was clearly sideways and taking time to move above or below it. This is the time where most option buyer loose the premium on the buy side and writes make profits.
Today opening was decisive break below the 50% level ideal to buy puts or short the index. target was 37.5% or more important 33.3% precent level at 47496.80. See the low is around 47481.35 not bad because above 47496.80 we cannot be short.
Now how to trade this level of 33.3% level. This is 1/3 rd of the range mirror of 2/3rd of range is next in importance to 50% percent level. So buying here with small stop loss gives a better risk reward ratio of traders.
Again we need see to number of points in between the two important levels.Take 37.5 % level as 47570 and 50% level as 47784. Range is 214 points. Divide it by 4.Gives 54.25 points. Add 54.25 points to base of 47450 to get 47624.25 as our first target with buy at 47470.the high of 10 am candle is 47631.55. So we got our scalping target within 30 minutes or second candle of 15 min timeframe. Use this method on the levels given by me to make small but confirmed profits in further chart updates by me. Wishing you more successes in your future trades.
Happy Trading !!!
If you find this updates helpful to you please follow , like and forward to those to need a simple trading system like this with any indicators to trade fast and furious in markets. I love the operator when is present in markets because He operates precisely at the levels on my charts. So do not be afraid of operators in market. Never blame others for your trading mistakes. Be patient Listen to markets plan your trades and trade your plan. Wishing you all reading this a very Happy and Prosperous Trading Year ahead.

Comment:

Now net target above 47624.25 will be add 54.25 points we get 47678.50. Current high of 11:15 am candle is 47694.10. So we achieved the 50% of the range target.
I am expecting consolidation around this level in immediate future. and move above or below it.
Happy Trading !!!

Trade closed: target reached:

We got the full retracement till 50% percent of 47784.45 as current high of 47880.15.
Following the levels and trading system will guide to definite profits.
Happy Trading !!!

Trade active:

We took resistance at the 50% level of 47784.45 and are now retracing down to 50% range level of 47678.50 on the index. Current low on 12 pm candle is 47654.25.
So nice scalping target achieved intraday of 43.25X2= 86.50 points on the index.
Happy Trading !!!.

Trade closed: target reached:

Full range targets achieved on the downside from 50% level on chart to 37.5% level on chart i.e. 47784.45 to 47569.75. Enjoy the trades. Follow the system and reap the profits in a systematic way with the discipline incorporated within it.
Happy Trading !!!

Comment:

We got a higher low on the index at 37.5 % level above the 33.3% level so shorts where out of question or had to be closed if taken. If held yo must in pain of losses.
We have reched 50% within the range of 50% and 37.5%. As there is squeeze of the range expect range expansion on either side if it happens. Use levels on chart for further guidance.
Happy Trading !!!