Pattern, Price and Time: Using Gann Theory in Technical Analysis
BHEL BHEL has formed a bullish engulfing pattern today,any trade above 145 can lead to further rise till 149 odd levels.Positional traders keep eye on 144 odd level any close above it BHEL is heading towards 156 odd levels. Intraday Traders can use the below mentioned levels Buy above 145 Tgt 148,149.5 and 152 SL … Read more
September Series is coming to an end, It has been an eventful series with Nifty making a low of 5303 and High of 6142 a move of 839 points, Stock market moved from the zone of extreme pessimism to over exuberance. Well thats the beauty of Stock market. The last 10 days has been quiet … Read more
A goal of every trader is to achieve enduring success. It’s hard to achieve this goal, however. The only way it can be done is through persistence and practice. Many are drawn to trading, but few can actually trade for a living. This is a discouraging fact of trading, but one need not dwell on … Read more
Hindalco Trading in a perfect up trending channel. Any break below 110 can see the stock sliding towards 102 odd levels in short term.Trading above 113 will take the stock to its recent swing high of 119. Intraday Traders can use the below mentioned levels Buy above 114 Tgt 115.3,116.7 and 119 SL 113 Sell … Read more
FIIs bought 27749 contracts of Index Future (bought 45251 long contract and 17502 shorts were added) worth 856 cores with net Open Interest increasing by 62753 contracts. SO FII’s went aggressively long today. Nifty opened below the upward rising trendline and near its 200 DMA, and closed near to the trendline confusing both Bulls and Bears.Bulls will … Read more
Rel Infra Reliance Infra was unable to close above its 200 DMA and also closed below an important gann number of 412.Any close below 398 will lead to further downside till 390 and 377 in short term which can be capitalized by swing traders. Bullish only on close above 412 for a short term target … Read more
Last Week we gave the Trend Deciding level as 10236 Bank Nifty made low of 10175 on Monday giving an excellent entry in longs and eventually reached all the Weekly Levels. The last week was one of the best week and worst week as Bank Nifty was up by 7% of Fed decision to continue … Read more
Last week we gave Trend Deciding level as 5806 Nifty Nifty achieved all Weekly target on upside with a gain of 271 points. September series has been quiet interesting with Nifty gaining 824 points or 10% in just 12 trading sessions. Both Fed and RBI surprised the market leading to volatility in stock market. Next … Read more
Definition of ‘Open Interest’ The total number of options and/or futures contracts that are not closed or delivered on a particular day. Few Scenarios to Understand OI If a new buyer (a long) and new seller (a short) enter a trade, their orders are matched and open interest increases by one If a trader who … Read more
LT LT trading in perfect up trending triangle and has taken resistance at 100 DMA, Any close above 898 will give short term target of 932, Failure to do so LT is falling back to 843. Intraday traders can use the below mention levels Buy above 898 Tgt 906,920 and 932 SL 888 Sell below … Read more