The Gann Fan is a technical analysis tool created by W.D. Gann. The tool is comprised of 9 diagonal lines (extending indefinitely) designed to show different support and resistance levels on a chart. These angles -drawn from main tops and bottoms- 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. Please note that the chart needs to be scaled properly to ensure the market has a square relationship.
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. 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. During an uptrend, if price remains above an ascending angle, the market is considered bullish and vice versa. TradingView has a smart tool that allows users to draw up to 9 customizable angles on a chart.
From our analysis, It seems the pair attempts to breach its long term resistance repeatedly and is finally a D candle closed above 4/1 Gann Fan resistance
we expect the pair might reach new higher highs after this and would reach the expected target
GBPJPY pair is on high resistant areas a chance of 100+ pips down might expected...! on breaching the resistance might increase the chances of going up....!
For coming week Bulls need to hold 10850 range, for the up move to continue towards 10960/11100. 5FEB -7 FEB are important time cycle dates for coming week, Any close below 10700 can see fast move 10600/10450
ESCORTS has been moving in a Gann Fan pretty decently.
CUrrently testing the blue sup/resistance level
It also broke out of the inverted head and shoulders(neckline not shown)
All of that for an upmove to retest the lifetime highs.
BAJAJ FINANCE is moving in an up channel for over a month now.
Ranging in the yellow zone on this leg, and testing the edge of channel
Creating smaller range and small bodied candles,indicating a breakout soon (in any direction).
or it can continue to move between the range created. before breaking out of dashed pink lines
Also respecing the Gann Fan Levels
NSE:NIFTY bounced from Gann Fan support of 2/1. Going long is feasible as soon as these supports are not violated. If they are deceived a Short should be made in it .
Expect a strong bounce back to 310 levels if the stock holds current levels.
It is trading near the confluence level and the level will act as a strong support.
Analysis based on fibs
This stock follow Gann Angles very effectively, Hence all good till it does not close below 148
Target 170 and more.
Small SL hence take the trade or keep holding.
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 ...
As shown in chart, PNB took support at Gann line and the uptrend may continue from here. Long position can be taken once it closes above 144.35 which happens to be 38.2% retracement level. SL and Tgt are shown in the chart.
Self explanatory chart. Close above the Gann line will be bullish, the volumes have been good in last few sessions. RSI is not supporting much but that can just mean that a close above Gann line will result in stock moving sideways for few days i.e. accumulation stage before it moves up again. Wait for the confirmation. Unable to close above Gann line will result ...
Nifty is trading near Gann Resistance. A breakout above will lead Nifty to 8773,8855,8969 and if unable to break Gann line, we can see 8510,8421. Wait for confirmation and avoid till budget event is over
NSE:NIFTY
Spot Nifty major trend is remain bullish minor trend is bearish. So, we expect price may move down for short term it is likely to take support around 8806.85, 8745.40
Resistance at 8857 for time being.
NSE:NIFTY
Spot Nifty trade at 8845.35 (+102.45) (+1.16) at the time of writing,according to me there is strong barrier between 8857 to 8892, and might be price pullback from this level.So, make your plan accordingly.
Resistance for short term at 8931.40 and Support at 8674.
Happy trading
https://in.tradingview.com/chart/NIFTY/RDBQ1IE8/
NSE:NIFTY
Spot Nifty Major trend is remain bullish and minor trend is now bullish,i think price may be touch resistance
at 8782, 8843 and support stand around at 8684.
Happy trading
M/m Tops and Bottoms dates for this month around - 16th - 22nd - 29th September 2016.
