BANK NIFTY BUDGET BLUES ... HOW TO TRADE AS PER GANN ANALYSIS...

Jul 23, 2024

Bank Nifty had a dead zone target of 53384.10 and we achieved an ATH at 53357.70. Earlier Centra of Gravity for the index was at 51128.45 and we hit high of 51133.20 on Exit Polls Day. Therafter we corrected to the earlier cycle death zone at 46115.45 and actual low coming in at 46077.85 on Actual Poll results coming in. We had a nearly one and one-third cycle movement on the index on downside. We ahve picked up from the bottom of 46077.85 and made an ATH at the death zone of 53384.10 projected. Todays Budget day important levels are 52632.25 and 52130.55 as trading zone. With usual breakout outsides this range.Sustained breakout outside this range will lead the price action hereafter. Intraday traders can use this trading range to their advantage for making some money for themselves. Use your risk reward ratio prudently without getting stuck in unnecessary positions and be swift to change directions as per price action seen on screen and not what you are seeing or predicting.
Happy Trading !!!