These are my personal musings. These are not in any way meant to be trading advise. To view the full chart, right click and open in a new window.The chart of today has nothing to do with Elliott or Gann, or any other method of analysis except common sense. Point No 1 faced resistance at a rising trendline, which has been tested historically. Point No 2 got support at a similar trendline. Point No 3 faced resistance which was very close to a pre-determined level of 3802, which we have been carrying for days. Point No 4 took support, also at a pre-determined level of 3685.
Point No 3 is higher than Point No 1. Point No 4 is higher than point No 2. So what does it tell us? It tells us that the market is seeking higher levels. For the time being, it may be suggested that we forget the coloured lines, as we seem to be in a fresh up move. This fresh up move will be valid as long as the Nifty does not go below 3569. Till then we may assume that the short term trend is up.
It will be interesting to see what the market does on 15, 21 and 31 March.
And as I am fond of saying, trade happy.
7 comments:
Dusant, I'd go more by March 15 compared to march 21 and 31.
regards,
vin
Sirji, 2 QUESTIONS as below:
1. how to get more gann fan lines than the standard ones in metastock, i see u have many more.
F1 to you now !
2. How to attach a chart on ur blog here, when we want to pose it as a question ?
thanks in advance !
reg
ketan
ketan
Ans 1: I have written a proprietary method to plot them.
Ans 2: You can upload your chart to a picture sharing website, and post the link with your query.
Dusant
sirji combining your two answers, can u share the gann plugin on a sharing website ?
reg
ketan
Yes I fully agree with Dusant as 13th March and 16th March is defnitely pressure days from previous lows and 25th March also a presure day from recent High.
Ketan
I am sorry,
there are some things which I cannot disclose due to a pending litigation.
enough said.
Dusant
i understand sirji, but whatever is possible to be shared, u already ARE sharing, thanks a million again !
hope u win hands down, if there IS any litigation...
reg
ketan
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