Wednesday, July 12, 2017

Nifty nearing 9851 precisely as per Gann Projection using Square of Nine!

Gann Square of Nine is a very different approach in technical analysis. It is a classical method designed by W. D. Gann in order to forecast price and time for any index or stocks.
In below research let us try to understand what does Gann Square of Nine means and how did it help us to forecast the levels of 9851 few months back itself…
During complex patterns when the trend is strong we try to use different methods to get price and time projections. On Figure 5 we have applied Gann square of Nine price projections. This is applied by looking at 180 degrees on Square of Nine.
Below is the Gann projection level published in the monthly update on 5th July and the same level was also shown previously on 6th June 2017
Figure 5: Nifty Gann projections and Time cycles (picked from the June issue of Monthly research report)

Happened so far:

The below figure shows Square of Nine method. Yellow highlighted area on the right side is the 0 degree and on the left side is 180 degrees. Since the price levels on Nifty we are looking at is nearly in range of 9000 the same cannot be shown here. But we have made excel projections with the entire cells till more than 10000 marked in the below fashion. Due to restriction of space the same cannot be shown here. So the price levels marked on Figure 5 is derived from the yellow region on the left side of x axis which is in series of 2, 11, 28, 53 etc. So if the reading continues you will come across 9851 marked on above chart.

Now read yourself the projection made in the Monthly research report:
Gann projection levels: We have been looking at Gann levels using Square of Nine and it has worked out very well. It is important to look at other methods of projections when a few techniques are not able to provide clarity due to the complexity of movement. As per 180 degree Square of Nine we got following important levels – 9458 followed by 9851 which can be seen in Figure 5. The correction seen from the highs of 9710 took a halt very near to the Gann projection level of 9458. Nifty made a low of 9448 on 30th June and reversed from there. Also if you remember this same level worked out well during the up move and provided resistance to prices which is now acting as crucial support. This is known as polarity reversal and for medium term reversal to downside we need to see decisive break below 9458 levels. Unless that happens we can now expect prices to again start moving higher towards the next projection which is at 9851 on upside. BANG ON!
Happened: Nifty reversed and turned sharply higher. It touched the high of 9830 on 11th June which is nearby the projected level i.e. a rally of 330 points on Nifty. So what is next from here?
The above technique clearly highlights power of Gann Square of Nine and how it has helped us to project the upper level shown above. Get access to this month research report – “The Financial Waves monthly update”
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