NIFTY 50 GANN ANALYSIS OF APRIL 2024 MONTHLY EXPIRY

NIfty 50 Index has hit the target of 22792.35 as per the chart ... actual ATH was 22775.70 on 10 April 2024. The break of important level of 22726 on 12 April 2024 gave a indication of lower values on it. We corrected significantly after the ATH and went down seriously to form lows at the cluster levels of 21890.75 and 21861.70... actual low was a overthrow with downside momentum prevalent in the index with geopolotical situation conducive and the bears capitalising on it. The level of 21800 is a seasonal point and short covering rally was expected after immediately conquering the level. Friady whole day we saw the index recoerving nearly 400 points intraday. Monday gap up showed the bulls strength and the level of 22327 was crossed in the day and the important level of 22239.75 was backtested which showed further strength for the index rally. For the expiry one level will suffice the trend determination which is 22414.25... above it we are positive and vice versa on the index. Resistance seen at 22501 and supports at 22327. Enjoy the bullish sentiments still prevalent in the golden period of the index rally. Its amazing to see a growth of 200 percents from 7511.1 to the current highs in last 4 years. Time is important than Price keep watching the three dimensions of the Markets .... Price Time and Volume... Always have 3D picture of the Cube of the Markets which has six faces four on the side and two making the top and bottom.... The top face boundary is from 20000 to 24000 roughly calculated...
Happy Trading !!!
N.B. Not a finanancial advice to buy or sell.
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