Nifty Gann Square forcast

2016년 12월 30일

Lines and curves are support and resistance for price.

The demand and supply zones are also marked on the chart which will give additional confirmation for price movement.

Trade setups are not mentioned on the chart because the trend perception of individual will be different, intention of the chart is to make traders aware of important time and price levels, which they can use in their positions.

The impulse leg for gann square is short as it may not work as impulse leg if we reverse and fall. But if we move up then these levels will help a lot.

Other than this chart there are few observation.

1. We have paper pin kind of pattern on monthly chart, which may work as base for short or medium term.
2. On weekly chart we have weekly close above previous weeks high.
3. Double bottom like pattern is formed on daily chart around 7900 which was good point for long.
4. 8275 is important level structurally, if we close above that, only then case for short term uptrend will be confirmed.

This was the last trading day in 2016 and markets will open in 2017 only :)

I wish happy and prosperous new year to all

1.May this year bring you biggest profitable trades....(short or long it doesn't matter)
2.May you be on the correct side of the trend.
3.May you plan and implement the best trading plan.
4.May your stops will get hit less times, than your targets.
5.May you adhere the money and risk management in 2017