The Gann Square is one of the best known technical analysis tools created by W.D. Gann. It is considered a cornerstone of his trading technique that is based on time and price symmetry. The Gann Square is an advanced tool and using it properly requires a base level of knowledge about Gann theory and some experience with charting. Please note that the chart needs to be scaled properly to ensure the market has a square relationship. The tool uses the Gann Wheel as a basis for its patterns of price and time. It can be used in a variety of ways.
One way is to start at the previous major pivot point (normally the end of the last 5 wave sequence) and draw it so that the 1 X 1 line follows the current market support areas to a good degree. Another way is to highlight geometric formations that can forecast key support and resistance levels by counting forward from the all-time low or all-time high. TradingView has a smart tool that allows users to draw the Gann Square on a chart.
I expect the stock to open gapdown and test the levels of 1760 -65 once and then rise above ,
thus will like to go long with sl 1738
aand positional tgt
1847 ++ in 2-3 days .
A friend of mine recommended MANINDS (NSE) at around Rs.133. Since his recommendation, it has gone down to Rs.126.55. But still he is confident that the stock will bounce back.
Yesterday this stock and found that it is in bullish mode. Bollinger Bands & MACD indicate that it will bounce from current level. GANN square confirms as well.
Normally I am long ...
Short here
1.double top
2.stochastic rsi overbought
3.macd is in mood of downtrend
4.macd histogram already started to go down
5.a very strong candlestick pattern (hanging man)
6.high risk to reward ratio
7.elliot wave still holding
.....All mentioned & plotted on Chart.
FnO / intraday / Swing levels Updated Later
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Disclaimer: Only For STUDY. For Taking Trade Decision Consult Financial Advisor.
All plotted on Chart.
Go Short Above @ 44.6+
Best or MORE @ 45.15+
TARGET: @ 44, @ 43.65, @ 43.1, @ 42.8, @ 42.45
More on Chart.
SL: @ 46.10 (by Closing)
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All plotted on Chart.
Go LONG @ 124.15 (LTP at 2.55 pm)
Best Long: @ 123.90 - @ 121
Swing Target: @ 128.05, @ 129.4, @ 130.9, @ 132.75, @ 134.7+
Short term / Medium Term : Plotted on Chart.
SL: @ 116.50- (By closing)
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Disclaimer: Only For STUDY.
For taking Trade Decision Consult Financial Advisor.
CESC: Lightening Ahead - Result Series.
Reason for LONG:
#1. TENKAN SEN (@ 884.95) & KIJUN SEN (@ 881.15) Bullish Cross OVER
#2. HIGH & CLOSE Above KUMO Cloud
#3. Crossed GANN Arch 3 X 1
#4. Crossed GANN Line 4 X 1 with Volume.
#5. Closed Above FIB Retracement 50% (Recent H-L).
SUPPORTIVE BREAKOUT ALSO FROM TECHNICAL INDICATORS & OSCILLATORS.
Go LONG: +0.50 ...
DABUR: Healthy Correction Ahead.
Witnessing Trend Rreversal.
Indicators & Oscilators Indicating OverBOUGHT.
Taking RESISTANCE on "GANN Line 1 X 2", Can Move to "GANN Line 1 X 1" and Take Support.
also possibility not to cross "GANN Arch 3 X 0"
All Levels Plotted in Chart.
intraday / Swing trade:
SHORT: Above @ 306+
More : Above @ 309.5+
TARGET: @ 302.9, @ 301 ...
Here is one setup just with Gann square, from Ceat chart you can see the resistance it has broken, so expecting move around 100 points approx. But let's see will it roll smooth or get punctured :)
