So where to begin with ?! Let's go with analysis first then we will touch up on Gann.
Why I'm aiming the zone of Nifty 9570's, as mentioned in previous post I can see potential ABCD pattern , though its bull run it may trigger downmove a smaller relief rally of 100 points. Apparently, we are aiming at 9750's zone for this bull run target zone, if My guess is right true & to this profile name, an Insider info, Institutions will slowly build up their short positions from 9600's to 10000's, one of the peers told, sounded logical. But as I always say, News or Rumour doesn't matter, we trust & trade charts only and just have the info in back of your mind. Thats it !
There is strong misconception that Gann is Money Generator. Guys, Gann has its own pro's n cons its not complete money maker and makes money forever or give 100% or 90% winners without any loss. Actually I saw few websites claiming 90% n 100% winner with Gann, I was quite surprised & how people get lured to them. Personally, I'm yet to come across one who makes over 75% or 80% winners consistently. So Gann is not holy grail. But when used properly it will generate money :)
But Gann is simplest tool which can be efficiently used in Intraday and when the stock gets single directional move, profits will follow. Either a range or swing will hit both stops and target whichever swing goes first is the result. I want to drive home just 3 points,
i) Gann not Holy Grail ii) Simplest tool for Intraday, only Intraday but Gann suggested to use it for long term analysis ( weeks or months ) iii) Even Gann time analysis have own success n failure rate & there is no 90% or 100% win rate
Disclaimer : I'm not giving the gyan, I borrow from Gann & sharing the Gyan.
Should I continue recent setups I'm posting with Gann or should I get back to old style ? What you Guys love to see ? Drop in your opinions, both on the content above & on posts :)
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Just an update on 5min chart :
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Though you guys might have known already just a heads up, relief is coming as expected and posted yesterday ( in above post ) , We expected 100 points relief to downside, looks like we are gonna have more bcos of global scenario, Enjoy !
Good evening Sir.
Your chart, as usual are brilliant projections of high probabilities.
I agree with you, irrespective of tools/ Gann or EW, i personally have started believing, these should be used as "trade booster"...sort of additional confirmations for mass view getting formed in Market, which is seen in Candles itself.
As far as this Trade is concerned:
1) we crossed psychological level of 9500, and now,
2) the next "BIG ROUND NUMBER" 10000!!!
3) That seems to be the Everest in current run. Personally i feel Market will/wants to complete the climb before 1st July GST roll in.
4) Inventory levels will be curtailed by that time and Production may see cut for Q1 ending June end, which matches time lines.
5) Moral of the story...correction MAY start in second half of June 2017.
Till then...Bulls are on heat!!!
SUBJECT TO OTHER ECONOMIC TRIGGERS ACROSS THE WORLD AND IN OUR OWN, "HEAVEN ON EARTH"...
Regards.
pn: Novice thoughts of a beginner, please forgive overdraft.
InsiderB
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@rajesh2467, Good evening buddy, I agree with all of your points. You're absolutely right in putting up the factors concerned. Bears are just waiting for that trigger point or news, lets see when it comes. Dude, I Myself can personally see how much you have grown over as chartist in past few months, I won't agree you are beginner anymore :)
@robus, Dude, though 38% are more than welcome, I expect Nifty will bounce at 9250-9150's zone, let's see, wish you all the best , if that works we all will be glad :)
Your chart, as usual are brilliant projections of high probabilities.
I agree with you, irrespective of tools/ Gann or EW, i personally have started believing, these should be used as "trade booster"...sort of additional confirmations for mass view getting formed in Market, which is seen in Candles itself.
As far as this Trade is concerned:
1) we crossed psychological level of 9500, and now,
2) the next "BIG ROUND NUMBER" 10000!!!
3) That seems to be the Everest in current run. Personally i feel Market will/wants to complete the climb before 1st July GST roll in.
4) Inventory levels will be curtailed by that time and Production may see cut for Q1 ending June end, which matches time lines.
5) Moral of the story...correction MAY start in second half of June 2017.
Till then...Bulls are on heat!!!
SUBJECT TO OTHER ECONOMIC TRIGGERS ACROSS THE WORLD AND IN OUR OWN, "HEAVEN ON EARTH"...
Regards.
pn: Novice thoughts of a beginner, please forgive overdraft.