NIFTY Update

NIFTY in no mood to provide entering opportunity to conservative Traderrs as posted yesterday need to buy on dipps. A very minor dipp was offered by markets last afternoon. Since then NIFTY in hurry to achieve another Target of 11725 which was mentioned yesterday. Because today is Gann date action was always expected. The nearest support from here is 11500 which is a Triangle Point of this cycle. Again fresh purchases should be avoided at current levels because real support still lies at 11380 on spot. September is an Intresting month for all Financial Markets. More on that later

SBI Target Achieved

Lot of discussions and debates were going on Social Media regarding fake and real breakout signal on SBI but those who followed the basic cycle pattern of SBI they were well aware on 13th of July that in few weeks SBI would test the level of 217 on spot And today the level of 217 is in front of us on our screens. Had clearly mentioned that this trade has to be taken in cash market because to achieve 15 to 20% of target on a single trade takes good amount of Time. Multiple opportunities were there to enter this trade. View posted on 13th of July 2020

NIFTY UPDATE

NIFTY has turned the support and resistance levels on upside above 11564 on spot. This rally could expand till 11725 and 11900 on spot in coming days. But has to be bought on dipps. Short term support zone is between 11360 to 11390 and medium term or weekly support zone is placed at 11250 on spot. Important TIME CYCLE dates falls on Today and Tomorrow so would be important to watch all markets around the world

Opinion Published in this Article is based on my Knowledge and Understanding of Gann Theory. I may or May not have any Trading Positions on suggested Scripts. These Views shall be considered only for Educational Purposes. Any Trading Positions should only be taken after consulting your advisor or obtaining the Gann Trading Course designed by me. I only would post the price levels no charts would be shared here to keep the analysis to the point without writing Lengthy posts