Category: STOCK MARKETS

Gann Price Time Analysis of Markets

Ossam week for markets and as expected in previous week the optimism prevailed in our markets and it prevailed with high spirits. Past week was 7th consecutive week of gains in our markets. Number 7 in Gann Theory holds lot of Importance for TIME ANALYSIS. This week would be important as well. It’s a short week due to the CHRISTMAS Holiday on Friday. But Price Time and Trend continues to stay very strong along with the Volumes. Has highlighted the factor of Volume Element in my earlier blogposts. So as far as all these 4 pillars of this rally continues to stand strong the joy would continue on DALAL STREET.

Although past week was 7th consecutive week of gains MARKETS are booming since last 6 months let’s look at the performances of few major markets. World stock market performance in last 6 month

Japan up 18%
Singapore 7.1%
Hong kong 9.59%
Taiwan 23.8%
South Korea 29.8%
Indonesia 21%
Nasdaq 28%
UK 5.21%
Germany 11%
France 12.29%
China 16.14%

India. 39.0%. Yes you read that correct Indian Markets are up 39% in last 6 months. And are 1 of the best performing markets in the whole world.

After a rally of such extend its obvious to have certain questions regarding the setup. Still using the rule of Extension targets could be projected on higher side 1 after another. But we all know that markets or any other universal object doesn’t really work this way. Yes as Traders we have to follow the primary trend but at the same time we also have to be prepared to take our profits as soon as markets gives us the first indication. So it is not wise to chase this upside blindly which has been my stand to trade this rally.

The conscious stand is appropriate only for short term. For long term current levels are also good levels to enter because long term target of NIFTY is at 17000 followed by 21000 in coming years. But coming back to the short term setup as I posted in previous week more then targets focus on supports or trailing stoplosses. Which in past week was at 13200 to 13300 and this week it has moved up to 13500 on spot. So as far as 13500 is held the rally would continue. On upside minor challenging zone is 13825 to 13875 which once crosses opens the road till 14020 to 14250 in coming days. For NIFTY BANK supports are same as last week here the target of 31500 is still pending.

On individual stocks front since last month I posted trading suggestions on multiple scripts. Majority of which has achieved their Targets. Whether its SUN TV BERGER PAINTS who completed their first target. BHARTI AIRTEL is also on it’s way to 600 it also gave long entry above 497 on 4th DEC. EXIDE IND made high of 197.4 in which the target was 198. VOLTAS also made high 844.9 where our first target was 848 highs were made last week. PETRONET also made high of 271 in 2nd week of DEC here our first target is 273. Targets were almost achieved but I post only when targets hit on absolute terms. APOLLO TYRE made high 200 where our second Target was 201 CHOLA FIN has achieved first target way back in NOVEMBER 2nd target of 417 is pending here. DABUR and TATACONSUM has not given an entry so far. ASHOKLEY has given entry past week target would take time to achieve here. I prefer to earn slowly and steadily. I had traded these stocks multiple times on both sides using angles and carried my positions for the pattern targets. BEL is yet to give the entry as well.

Disclaimer views expressed above are personal. And are Subject to change with time. Any Trades taken with reference to above Analysis has to be at your own risk. Trading in Financial markets is always subject to risk. So dont forget to consult your Financial advisor before taking any trades.

Weekly Market Update

Another week of solid gains on INDIAN INDICES. Past week went exactly on expected lines. As we expected NIFTY to scale new highs in prior week and accept Thursday NIFTY made new all time highs in all trading session’s during the week. And it continued to achieve the Weekly Targets. Since we again had the weekly high on Friday this week also optimism would prevail in our markets. But as I stated several times in my previous blog posts to chase this upside sensibly and consciously. And follow the trend on upside. So far this approach has given us desired results in our Trading Success.

Though my view is to stay conscious on markets it’s not at all bearish. Because NIFTY hasn’t broke a single support since last week of November. With every rise supports are just moving higher. So until the supports breaks the Bearish view doesn’t stand on any Merit of the rules provided for Trend analysis. Until we as a Traders think,expects,or,believes that market has topped out or bottom out without any practical reason. Because why would market care what you or me thinks individually. Financial Markets follow their own pattern which we have to follow. So until that pattern doesn’t breaks it makes no sense as conservative Trader to trade against the Trend. So even we gets anxious where the top of this rally would be conservatively we have to wait until market gives us a absolute and clear signal. As humans we always have a tendency to predict the top or bottom before anyone else predicts it. So once you have that control on that Mental Behaviour Trading would be an easy stuff for you.

Last week was pivotal for markets. Because several Time Cycles ended in previous week. So going ahead the high and low should be considered as a reference points for this month. So both the price and time are extremely bearish or bullish only below or above the range of prior week. In between the range trend should be considered neutral. And this applies to all stocks and comodities across the world. Well a long calculation has been involved behind whole conclusion. Just to make it easy to understand I had tried to explain it in a simple manner.

Last week I gave the level of 13520 as a first target of the week followed by 13680. NIFTY achieved the first target on wednesday. NIFTY BANK also achieved it’s long pending target of 30500 this week. Since both the Indices achieved their swing Targets supports have shifted significantly higher. Which on NIFTY lies in the zone of 13220 to 13300 on spot which once breaks would signal more downside. So consider to exit longs if you are a swing trader. For NIFTY BANK major swing support is placed at 29700 on spot. As long as these supports holds rhythm of markets would stay intact.

Disclaimer views expressed above are personal. And are Subject to change with time. Any Trades taken with reference to above Analysis has to be at your own risk. Trading in Financial markets is always subject to risk. So dont forget to consult your Financial advisor before taking any trades.

PIVOTAL WEEK for Markets Ahead

Markets moved on expected lines during the week gone by. The strength continued in our market along with International Markets. But as I mentioned in my post dated 30th of November 2020 this rally would be tested by the factor of TIME.

On price front last week I gave 2 targets on upside at 13135 and the zone of 13315 to 13365 on spot. Initially NIFTY found it tough to cross the first weekly Gann Angle of 13135 but when it broke NIFTY continued to scale new highs. And almost achieved the another target area. High made was 13280 on friday. Since we had it on Friday this week also highs would be scaled. For this week 13365 is a minor challenge according to price above it 13520 and 13680 are weekly angles on upside. Supports are placed at 13120 for this week and major support is at 12950 this support has moved up from 12700 from previous week. On monthly setup supports have moved up substantially before this important week. It’s important for us to chase this rally carefully and sensibly.

NIFTY BANK also is yet to achieve the zone of 30500 which I mentioned on 30th November post. The high of the week was 30162 on Friday. On individual stocks front in derivatives there are only handful of stocks which are providing reliable entry opportunities. So at this point of time its wise to buy those stocks in cash. And hedge them by NIFTY PUTS to control market Voletility.

This week is pivotal for Markets on multiple fronts. The Important aspect would be the squaring of time which would happen in 2nd half of this week. So going ahead the high and low would be the reference points for the strength or weekness. I already shared December Gann dates in my earlier post. Sharing the linc below.

Disclaimer views expressed above are personal. And are Subject to change with time. Any Trades taken with reference to above Analysis has to be at your own risk. Trading in Financial markets is always subject to risk. So dont forget to consult your Financial advisor before taking any trades.