NIFTY BANK GANN ANALYSIS FOR WEEKLY EXPIRY 12 JUNE 2024
Election results volatility is over and we look forward to stable government formation and thereafter next trigger will be the first annual budget of this government where the market makers will apply their capital atkeast for the next one year. The extraordinary swing on the exit polls day was a great shakeoff on intraday and short term player. Those who could realign their shorts and longs according to the markets made quick bucks. This where Gann Trading System is superior and makes regular profit booking habitual task.
The level to short after ATH was 50733.50 targets where 49535,47937 and 46339. The markets obliged us with 46077 an overthrow or lost motion in Gann terms. Buying was possible above the level of 46738.50 and those who were aware of the Gann System trades are happy traders. In Gann system we measure vibrations which are percentages given by Gann and those work day in and day out.
Let us come to the current weekly expiry the level of 50% as shown in chart at 49535 was important. Yesterday we made low near it at 49530.50 that a more than decent accuracy in percentage terms to trade on a 5 figure price level. Bounce back was expected to next vibration level at 62.5% at 49934.50 we got a high at 49937.10 at 10:30 am candle. Next high was at 49945.25 at 12:45 pm candle and final high at the end of the day was at 49970.30 and we closed in between the two vibration levels. The 50% between the two vibration level is 49834.50 which is important today. Critical level is 49535 to watch on downside. Extension on downside could lead us to 49135.50 and 49002.55. Upside level to watch is 49937.10. extension on upside could lead us to 5067.75 and if broken we may see new ATH around the levels of 50334.Trade the levels using your intraday skills and make decent profits.
Happy Trading !!!
N.B. Not a financial advice to buy or sell.
With usual disclaimers as applicable within the reach of this beautiful trading analysis platform. Thanks to the developers of the program for this opportunity to use it freely to express our ideas to the community of traders.
The level to short after ATH was 50733.50 targets where 49535,47937 and 46339. The markets obliged us with 46077 an overthrow or lost motion in Gann terms. Buying was possible above the level of 46738.50 and those who were aware of the Gann System trades are happy traders. In Gann system we measure vibrations which are percentages given by Gann and those work day in and day out.
Let us come to the current weekly expiry the level of 50% as shown in chart at 49535 was important. Yesterday we made low near it at 49530.50 that a more than decent accuracy in percentage terms to trade on a 5 figure price level. Bounce back was expected to next vibration level at 62.5% at 49934.50 we got a high at 49937.10 at 10:30 am candle. Next high was at 49945.25 at 12:45 pm candle and final high at the end of the day was at 49970.30 and we closed in between the two vibration levels. The 50% between the two vibration level is 49834.50 which is important today. Critical level is 49535 to watch on downside. Extension on downside could lead us to 49135.50 and 49002.55. Upside level to watch is 49937.10. extension on upside could lead us to 5067.75 and if broken we may see new ATH around the levels of 50334.Trade the levels using your intraday skills and make decent profits.
Happy Trading !!!
N.B. Not a financial advice to buy or sell.
With usual disclaimers as applicable within the reach of this beautiful trading analysis platform. Thanks to the developers of the program for this opportunity to use it freely to express our ideas to the community of traders.
Extension on upside could lead us to 50067.75 and if broken we may see new ATH around the levels of 50334.Trade the levels using your intraday skills and make decent profits.