BankNifty's weekly S/R important levels according to Gann Square where BankNifty can take support or face resistance these are very important levels we have observed from previous many years of analysis market stop and revers most of the time at or near from these levels. these are the dynamic levels which changes on the basis of weekly closing
@nooby_trader, these are " gann price square " levels some mathematical calculation involve in this to get these levels they are very powerful levels most of the time market makes its high and low near or at these levels
nooby_trader
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@stocfin2102, Yes I see it. :) But how do you calculate it? Also do you calculate them from weekly close ?
stocfin2102
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@nooby_trader, yes we calculate from weekly close , as far as calculation is concerned it is gann price time square calculation you can search it on inter net lots of content is available on the net .....there is two things involve in it Price AND TIME ,when the price and time matches at the same point than there is potential some major changes happens in the stock or market trend , to master the time you need to have a some knowledge of planetary movements because there is a astrology involved in this than you can predict with more accuratly ,,,we only calculate these with price and it gives very good results .....as you have seen on the charts we are calculating these levels from the last more than 5 years ......these levels are the best amongst all
nooby_trader
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@stocfin2102, ok. I see. so your level doesn't concern the astro part I guess, but the price part. Even though the price levels are much stands out for intra. :)
stocfin2102
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@nooby_trader, yes....astro part tells only when this price will come on which time ....but i am not a astrological background so that i left that part i mainly focus on price ....because if you do not know some study and try to apply without complete knowledge it will create mess rater than results.we wait for the price come to the levels and trade accordingly .....
tommorrow will nifty reach to 33k support or will reverse before reaching there
stocfin2102
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@Nilay80, as you can see on the hourly chart there is a diversion formed at the bottom and after the diversion market moved upside and closed above the 3rd support ....if tomorrw market maintain that level and today's low not break than it will take upside move ....if today's low break in coming session than 33k window will be open