Author: SAAHIL BELIM

MY NAME is SAAHIL and I have been actively trading in EQUITY MARKETS from 2014. I have been using Gann theory in my TRADING JOURNEY since 2016. my approach to Gann THEORY is totally different than what you may have seen or heard in various YOUTUBE VIDEOS. I have developed multiple MATHEMATICAL MODELS which are based on METHODS described by sir gann in his courses. I never had used any kind of CHARTS to identify the TREND. hens I never share CHARTS to illustrate my view. I like to keep things SHORT and to the POINt!

RELIANCE UPDATE

RELIANCE, lot has been said on it earlier here. Several of my friends doesn’t agree with my stand on this stock. In the course of next 3/4 months people would realise how the TIME factors work in markets. The sharp bounces would be followed by sharp correction here. Any upmove without a support of time never sustains. Said this earlier saying it again. No matter how far you take price it has to come back To the point from where it starts as far as trade is concerned covered short calls here. And entered JUNE ATM puts. Let’s see it’s an open challenge to operators and manipulators. Intresting to watch who wins this challenge. Maintain all targets shared earlier.

DXY view

DXY, (U.S. DOLLAR INDEX) is staring at a massive breakout. A print above 102.25 would trigger a Triangle Breakout whose Targets would be 108 in days to come. The rally of such magnitude won’t take place immediately. Its consequences on EM would be painfull. Keep a watch.

ITC view

ITC: had a good run recently. The rally now seems Topping out. Initial signs are there, confirmation would come below 248 on cash. Once 248 breaks it would give a (RECTANGLE) breakdown, whose Targets would be 234 and 220 on Cash directionally. It moves very slow so gives opportunity to manage Positions.

ICICI BANK view

ICICI;BANK would react on its Quarterly results on Monday. No idea how the results would be, but before results the setup is Indecisive. There is a bullish probability here above 787, but not interested in long trade here. So let’s move on to the bearish probability. The level to watch on downside is, 718 on cash. Below 718 it can test levels of 692 and 662 positionally. Just a matter of Time, the MARCH low of 642 would break in days to come. Let’s see how it reacts on Monday.

NIFTY UPDATE

NIFTY violated the condition of holding 17,200 on spot. So Techmical pull back is done for now as per pattern. Be careful with long trades now. Utilize bounce to create short Positions. As a retail trader it’s important to understand, that a bearish market doesn’t sinc daily. You have to give Patterns some time to unfold. Today is an Important Vibration Date, so todays low would be critical on Time Front. A daily close below Todays low, would take NIFTY to 16,850 and 16,550 Positionally in Coming days. Next week we have 26th, and 28th, as next TIME CYCLE dates. So if we close below Todays low on Monday then we can have a decent down trending week, next week. So approach consciously.