Gann Angle chart

In my earlier post, I had posted a Gann Angle chart which is worthwhile to revise now. I have given the new chart below

Upward			Downward
Gann Angles			Gann Angles
0	5303		0	5239
15	5315		15	5227
30	5328		30	5215
45	5340		45	5203
60	5352		60	5191
75	5365		75	5180
90	5377		90	5168

Gann Angles indicate where an important reversal could happen. These calculations cannot be used in intraday. The values mentioned here can only be used as a guideline giving us where Nifty could travel upwards and downwards.      

Happy trading!!

Leadmini & Zincmini charts

I have given below the charts of Leadmini and Zincmini

CHART OF LEADMINI FOR THE MONTH OF AUGUST

Leadmini has managed to retain the momentum it gained from 17^th onwards. It appears to have met resistance at 110. Leadmini has reached overbought zone and may witness selling happening.

CHART OF ZINCMINI FOR THE MONTH OF AUGUST

The above chart of Zincmini clearly shows that it is declining. Zincmini is likely to lose more value in the coming trading sessions. It is in a bearish zone. The first support level has been broken and indicators like MACD and SMI do not indicate a reversal.

The spread gap has increased to 8.8. One should wait for a reversal to construct a bull spread.

For intraday traders I have already posted the pivot levels in this blog.

Happy trading!!

Trading Nifty on 3rd September,2012

Pivot levels for 3^rd September 2012

The Nifty has become weak and traveling in a bearing zone. The pivot level has come down to 5267 levels. If Nifty opens below 5267 then it will again confirm a downward journey. 5238 is an important level to watch for. Various reasons can be attributed for this trend. Many of the popular indicators do point Nifty's weakness. Unless the Bank Nifty which is in the oversold zone makes comeback the Nifty will have to remain in a tight trading range. This week is  going to crucial for Nifty. 

The following chart gives and outline of what could be the trading levels for Nifty.

                                          

Mid R3       5345    R3       5359

Mid R2       5313    R2       5331

Mid R1       5281    R1       5295

                                          

Pivot           5267               

                                          

Mid S1       5249    S1       5231

MID S2      5217    S2       5203

Mid S3       5184    S3       5166

The traders who follow Fibonacci numbers I give below the chart based on Fibonacci numbers

Pivot        5267                                                        

                                                                                

R3           5331       S1           5242                          

R2           5307       S2           5227                          

R1           5291       S3           5203      

Happy trading!