Look out for the date October 2nd and October 17th which are potential reversal dates but not trading dates a wild movement could be seen from these days.
I took trade of 25000CE October expiry at 102, and it is now 71 went low of 57 but still, I am holding because of the gann cycle reversal.
Price action traders and intraday or weekly expiry trader play with small stop-loss.
long term or monthly trader can hold till double your capital because I am expecting for 200+ if u take trade at 70's you can trade for 140 target with strictly max of 10 lots
Trade closed: target reached
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sideways movement seen from now and a sharp downfall will happens
Trade closed: target reached
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Please don't hold beyond this, as you have already could be doubled your capital. Please wait for PE calls from now. As the market can fall vigorously at minute between the 9th to 14th of this month which starts from tomorrow.
how to draw the gann square and the date calculation will u pls explain me
Srinivas_Paulraj
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@gann369, Sir, For the breakout region you have to take past lower low and drag the Gann square to the past high and if you notice on each wedge there will be a finite breakout of the upper side so when the time frame comes near the wedges you can expect a breakout. Yes, I have mentioned it as expected only. You cannot find the trend change confirmation in this gann square. For the trend change prediction, you have to do harmonics, Elliot, or any other kinds of stuff and gann square is just to predict when it happens. To be precise gann is to calculate the time frame needed for the trend change and for the trend analysis you have to follow some other method. If you still want to know about how I drew the gann square kindly PM me sir.
2 oct done... so coming next week we will be seeing pullback of this rally...
Srinivas_Paulraj
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@Goutam5196, I wonder I could be a major pullback for the bigger upside than 31st August, my suggestion or plan is to wait for the C wave which is a downside to complete and take trade from there please check my view of nifty using Elliot, Bank nifty is going to complete its B wave in 1 - 3 days and starts falling again and take resistance and see the upside from there only. So wait for wave C to complete for the buy-side because even B is not completed yet. And have updated with my recent charts as this one was closed on Thursday itself.
@Srinivas_Paulraj, as discussed NIFTY n BANKNIFTY surpassed the highs ... can we take completion of wave b and now going for wave c down...?
Srinivas_Paulraj
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@Goutam5196, Yes, but even though the market seems to be bullish. I'll update you as soon as I see any reversal brother. Even now, I am trying to find any patterns but the whole market is indecision. It is the matter of fact who is gonna start the action, buyers or sellers decide the market movement better not to get into their fight. Honestly we, the retail traders are always just decoys in their fight. Better let's stay away from them. Haha
Goutam5196
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@Srinivas_Paulraj, yeah right... euphoria of US election will only trap us... ok lets wait for clear movement