The trading techniques by W.D. Gann are widely seen as innovative and are still studied and used by traders today. He used angles and various geometric constructions. Gann angles divide time and price into proportionate parts and are often used to predict areas of support and resistance, key tops and bottoms and future price moves. The method is based on the notion that markets rotate from angle to angle and when an angle is broken, price moves towards the next one. Several angles together make up a Gann Fan.
The angles are drawn from the main tops and bottoms while the chart is scaled appropriately to ensure the market has a square relationship. The most noteworthy angle is the 1x1 or the 45° angle, which represents one unit of price for one unit of time. A change in the direction of price is expected when the market reaches an equal unit of time and price, up or down. TradingView has a smart drawing tool called the Gann Fan to apply several Gann angles to the chart and other tools like the Gann Box and the Gann Square to visually identify key levels on a chart.
Price action is consolidating within narrow range. Bullish above the resistance 10840 - 10860 for the targets 10920, 10980 and 11120. Bearish below 10760 for the targets 10680, 10620 and 10560.
The stock is in bearish zone and will enter into the influence of Gann fan once it closes above 222 on closing basis. Present support is at 119 (variable). This 8/1 last support was tested on 05.12.2018.
Eicher Motors: A perfect entry would have been on 04.10.2018 at 20001. However, today is also it is in attractive position. But my favorite entry point would be when it crosses 22670 on closing basis. Target in intermediate term would be 25255.
National Peroxide: As anticipated, returned from 4203, instead of its support point at 4190, which could have been an ideal point of entry. Monday if it will touch 4210 or not, I don't know, but short term target is about +20% from here at 4880. My personal opinion.
In recent CUB chart show AB lag
Simply identified chart pattern is AB=CD
So, as per this pattern our target is 235 to 237.
Stop loss is low of point C ....
Now as per my trading style
one can look for buy above 188 for target of
1st- 207
2nd -220
3rd- 237
& Stop loss is 168 So Risk of 20 point for target of 49 point
Risk reward ratio 1:2.45
Also refer ...
Colgate Palmolive: It is in a sweet spot having crossed 2/1 resistance angle and remaining bullish, for fresh entry. Support is at 1235. Target in intermediate term is 1700.
LTI has crossed ½ resistance and the move is quite bullish. If the bullishness persists, then one can have a target of 2060 in intermediate term with support at 1800.
BEL returned from 1/1 resistance angle today. Tomorrow it has to close above 81.50 on closing basis for breakout. If it happens so, target in intermediate term will be 136.85. 2/1 angle support is at 53.50
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