The trading techniques by WD 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.
Having closed above 3/1 long ascending angle and crossing short term resistance, the stock has turned bullish. If it maintains bullishness the intermediate resistance is at 900, 1030 and target is 1100. Support is at 800
181 coming?? probably yes.
disclaimer:THE CHARTS PRODUCED HERE ARE FOR MY PERSONAL REFERENCE ONLY AND THEY ARE NOT ANY BUY OR SELL RECOMMENDATIONS. Kindly consult your investment advisor and family members before investing.
Having crossed 1/2 ascending angle on closing basis today, the stock has turned bullish. The support is at 3692 for tomorrow and intermediate term target is 4250 or higher , if the momentum is maintained.
If it maintains bullish trend, a resistance is there at 2615. If it is able to cross 2626 on closing basis by 01/03/2019, a target of 3090 can be had for intermediate term.
Today it crossed 8/1 ascending angle and may turn bullish for which a couple of days it is to be kept on watch so that 742 is not broken on closing basis. If it remains bullish the first target to be achieved will be 848.
Resistance at 209. If the resistance is crossed and the stock remains bullish, I expect an intermediate target of 329 in intermediate term. Support is at 169.
On January 23rd, I had told the target as Rs.5.00. In the intervening period the stock has crossed a major resistance angle and on its way to hit a target of crossing Rs.5 and hitting 7.85, where it may find some resistance. Support at 4.65
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