Bank Nifty

13 сент.

Date 13.09.2024
Bank Nifty
Timeframe : Day Chart

This is very powerful analogy to evaluate the rightness of strength whenever market exit from any zone. Many traders & investors get stuck when their understanding with respect to momentum/speed of move is not there. Something what happened yesterday after 1300 hrs.

Therefore, i am presenting future conditions using analogy between Fibonacci, Fibonacci speed resistance fan & Gann.

Remarks :

EXTENSION :
1 Base of the extension is 23.6 at Fibonacci
2 Zone exit is over gann 4/1
3 38% at fibo fan + 23.6 % Fibonacci base is broadening ascending high volatile framework
4 Gann 4/1 & 8/1 is small extension with correction bias, thereafter final 8/1 is high momentum exit

CONGESTION :
1 Zone between 38% & 23% strong selling & strong buying created an invisible pin bar
2 50% of fibo fan will act as support & resistance regression between 38% & 23% Fibonacci
3 AT Gann 3/1 & 4/1 will act as support & resistance regression between 38% & 23% Fibonacci

BREAKDOWN :
1 A zone exit from 38.2% which is also a breakdown of invisible pin bar
2 Lowers highs with respect to Gann 2/1 is weaker trend
3 Starting its journey from breaking down 50% of fibo fan & closing below it within congestion zone is early signs of it.

Note* I have done extensive work & research of when Gann is useful with respect to time cycle & which are the key areas. It may possible that some of you might not understand from what's mentioned above. I would request you to keep it safe as screen shot for future reference & see it by yourself in future what mentioned in comments & how market will react.

In case of deeper clarification & understanding feel free to get in touch.

Regards,
Ankur