NIFTY 50 HOURLY GANN LEVELS CHART FOR 03/01/2024
Updated
Yesterday given 21593 as support and we closed above it. See the chart with the levels marked on it. We are positive ave 21670with targets at 21747 earlier breakout level.
Downside 21593 below if we sustain 21516 is the level to watch.
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Downside 21593 below if we sustain 21516 is the level to watch.
Happy Trading !!!!
You can always follow me kbr9121965 here for more updates.
Thank You
Trade active
Both the levels hit High is 21677.00 and Low is 21594.45 an 1.45 points miss on an Index 0f 21677.00 Gann used 3.5 points stop loss and called it as Lost Motion.Refer Commodities Course...
Happy Trading !!!
Note
How to trade in between levels see on 15 min. First candle done the range given. Range is nearly 80 points 50% is 40 points. 21593 plus 40 points gives 21633. second candle of 15 min the high is 21630.10 only miss by 3 points so within the range of Lost Motion eplained above. As we didnit cross the Gann 50% percent level we may go down. Again below 21593 minus 40 points gives 21553 as 50% percent level support. Low of second 15 min candle 21559.50. So missed 21553 by 6 points which 2 times 3.5 points. I thinks the range 0f 74 points within the 2 50% levels was a good trade.Happy Trading !!!
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Note
We are 1 points above the yesterday 10:30 am candle low level to watch for reversals if any on the upside...Note
Staying above 21593 is critical for an sustainable upmove.Current candle high is 21589.55 which just 3.5 points below our level of 21593.00.Stay safe and trade the levels given with discipline.Wishing more successes in trading ahead.
Trade active
As mentioned in chart comments below 21593 we could hit 21516. Use the levels precisely for further trading clues.Note
21516 plus 20 points is 21536 current low is 21538.75 so 3.75 points above. Lost Motion phenomena observed as per Gann Method. Lost Motion is 3.5 points above or below target levels. We in Technical Analysis call it is as overthrow or undershoot the target level or in other words safety margin for booking profits. Never work on Hopr or Fear trade the levels as per the trading system. Trading Systems generate profits and not our intelligence. We may have the right knowledge but if we donot folow our trading system. Happy Trading !!!Trade closed: target reached
Nifty 50 Index has achieved the target of 21516.00 with a low of 21519.70 on the 15 min candle of 12:30 pm till update. Caution on this level as we may see expansion on downside to 75% level at 21438.95 . Else it is a commmon observatio to consolidate for sometime within the range of 1.125 and 0.875 on the chart.Happy Trading !!!
Note
Nearly 40 points move on upside seen from 21516.Happy Trading !!!
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