BANK NIFTY GANN ANALYSIS FOR 05 JUNE 2024 EXPIRY
W D Gann had said if you know the begining you can predict the ending. Gann also gave the importance to Time more than the Price. So lets use come to Time and start from the Gann Year 21 March 2024 to 20 March 2025. Having said this we agree that the last Gann year eneded at 20 March 2024. So the bottom made there is the start for the current year.
See the swing high and low chart marked for analysis. Yesterdays saving grace was we are yet to break that low of 20 March 2024 made at 45828.80. The break of this low will mark a decent correction and we will correcting the rise from earlier years. As per swing marked intraday trade was possible from 50470.15 till 46491.85. One may feel it is after event analysis. Lets take it with a pinch of salt. The Gann Analysis method remains the same. For those who need proof to go and anlyse the past data and get proof on their own.
Coming to the weekly expiry today the level of 46491.85 is important for any recovery to happen. Also breach of 45828.80 will open the downside for more correction. So be cautious when trading today. When sentiments are high they swings are very wild and cause a big dent on your trades and more damage to your portfolios. On the upside we need to stay above 47154.90 for sustained recovery we need to stay above 47596.75. Trend decider level is 48481.00. Above this level only we may see good recovery and stability in the index.
For the Price Cycle we completed one cycle within the Time cycle of 50%. So we have moved at the rate of 2x1 angle on the index. We need to sustain above 46500 levels with major resistance at 48500.
Happy Trading !!!
See the swing high and low chart marked for analysis. Yesterdays saving grace was we are yet to break that low of 20 March 2024 made at 45828.80. The break of this low will mark a decent correction and we will correcting the rise from earlier years. As per swing marked intraday trade was possible from 50470.15 till 46491.85. One may feel it is after event analysis. Lets take it with a pinch of salt. The Gann Analysis method remains the same. For those who need proof to go and anlyse the past data and get proof on their own.
Coming to the weekly expiry today the level of 46491.85 is important for any recovery to happen. Also breach of 45828.80 will open the downside for more correction. So be cautious when trading today. When sentiments are high they swings are very wild and cause a big dent on your trades and more damage to your portfolios. On the upside we need to stay above 47154.90 for sustained recovery we need to stay above 47596.75. Trend decider level is 48481.00. Above this level only we may see good recovery and stability in the index.
For the Price Cycle we completed one cycle within the Time cycle of 50%. So we have moved at the rate of 2x1 angle on the index. We need to sustain above 46500 levels with major resistance at 48500.
Happy Trading !!!
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