Now this course is for three and a half hours. Contents of the course are
1. Gann Time Cycles
2. Trend Lines
a. Trend Lines
b. Channels
c. Pitch Fork
d. Regression Trends
3. Fundamental Analysis: One lecture on understanding Economics
This week few stocks worked very well in mentioned levels a week before. Reliance tops the list. Reliance managed to reach close to resistance 2 at 2228 (2239 is the R2) and fall to first support 2289 (Low formed at 2091) and bounced by almost 45 points. 2091 is the outer support of the channel. Maruti performed just opposite to the price behavior of Reliance Industries. The price of Maruti managed to take hold at the first support point of 6763 (Low formed at 6764) and zoomed by 300 points in 2 days. Maruti Suzuki performed one of the top performances in a day on the last day of trading, this Friday. The price of Maruti managed to cross even second resistance from the low of first support. HDFC Bank outperformed even Maruti Suzuki by making the bottom at 1192 which is third and last support providing the strong buying opportunity on Monday. HDFC bank formed the top at 1251 which is the second resistance. Nifty was in a range of top and bottom of the day October 15, 2020. All the next 6 daily candles thereafter are inside bars and not indicating any trend till the time high and low are not breached and hold above or the below.
weekly levels posted 6 days back
Now, what’s in the future if the top or the bottom of October 15 is taken and the price hold and triggers a strong move on either side? Can Nifty 50 moves by 1000 points after the breach of the mentioned range on either side? The probability is very high. Disclaimer: It’s just a view and may, may not hold good. It’s not a recommendation to buy or to sell. Take your own decision to trade by consulting your investment advisor. My advice is whatever trade you initiate never forgets to keep the stop loss. Stock trading is influenced by not only demand and supply but by much-unexpected news. US President Elections are just 10 days away on November 3rd and the result will be out by mid-night US time or on the next day. The chances are that results may be challenged in some states by either democrats or the republicans, so the next 10 days may be crucial. Let’s hope things pass smoothly. November 3 + 10 days means November 13 may also be an important date, other than November 3 or the 4.
What are the important levels for next week October 26 to 30th?
US prime indices DowJones, US500, and Nasdaq 100 are important to watch. These indexes may remain volatile and keep other equity markets of the world also in action. Last week world’s equity markets formed the diversions, where Hang Seng, Indian, and Australian equity markets marched upward but European markets corrected. Out of the lot UK equity market, FTSE 100 or UK100 formed a new low of last 5 months on Thursday but the good news is it bounced back to 5859 from the low of 5713. FTSE100 formed high on June 9 this year of 6525 and corrected by 200 points on the same day. Close of this day which is 6364 tested by the price movement of the UK100 almost 4 times but could not hold above mentioned level and corrected all the four times. One other good news was from the US employment numbers. The US unemployment rate declined to 7.9percent in the month of September from 8.4 percentages in August ’20. The highest unemployment percentage was 14.7 in the month of April ’20. The people in different jobs are getting increments also at this time. Let’s hope this momentum is continued further in the coming months.
Weekly levels of Indian Stocks and Commodities listed at NSE, BSE, and MCX
