Gann Trading Strategy: Weekly Nifty Stocks Trade Setups with Chart Analysis

By | March 6, 2023 9:14 am

HOW TO TRADE GANN LEVELS

Introduction: Gann levels are a popular technical analysis tool used by traders to identify potential support and resistance levels in the market. These levels are based on the work of W.D. Gann, a famous trader and market theorist who developed a unique approach to trading. In this blog post, we will discuss how to trade Gann levels and use them effectively in your trading strategy.

Understanding Gann Levels: Gann levels are based on a series of angles that represent the relationship between price and time. These angles are drawn from key pivot points in the market, such as swing highs and lows. The most commonly used Gann angles are 1×1, 1×2, and 2×1. The 1×1 angle represents a 45-degree angle and is considered the most important angle in Gann analysis.

Using Gann Levels to Identify Support and Resistance: Gann levels can be used to identify potential support and resistance levels in the market. When price is moving in an uptrend, the 1×1 angle can be used as a support level. Similarly, when price is moving in a downtrend, the 1×1 angle can be used as a resistance level.

The other Gann angles, such as the 1×2 and 2×1, can be used to identify potential support and resistance levels as well. These levels are often referred to as “minor” support and resistance levels and can be used in conjunction with the 1×1 angle to confirm trends and potential entry and exit points.

Using Gann Levels with Other Technical Indicators: Gann levels can also be used in conjunction with other technical indicators, such as moving averages, to confirm trends and potential entry and exit points. For example, when price is above the 1×1 angle and the 50-day moving average, this can confirm an uptrend and be a potential entry point for long trades.

Conclusion: Gann levels are a powerful tool that can be used to identify potential support and resistance levels in the market. While they can be effective on their own, they are best used in conjunction with other technical indicators and a solid trading strategy. As with any trading strategy, it is important to backtest and practice with Gann levels to find the best approach for your trading style.

Reliance

Trend Deciding Level:2389

Weekly Resistance: 2414,2438,2463,2499

Weekly Support: 2364,2339,2314,2290,2265

 

HDFC

Trend Deciding Level:2659

Weekly Resistance: 2684,2709,2735,2760

Weekly Support: 2634,2608,2583,2558

 

Infosys

Trend Deciding Level: 1486

Weekly Resistance:1505,1524,1543,1562

Weekly Support:1467,1448,1424,1410

 

ICICI Bank

Trend Deciding Level: 870

Weekly Resistance: 878,886,892,900

Weekly Support: 862,856,848,840

 

HDFC Bank

Trend Deciding Level: 1619

Weekly Resistance:1638,1658,1678,1698

Weekly Support:1599,1579,1560,1545

 

TCS

Trend Deciding Level: 3341

Weekly Resistance:3369,3397,3426,3444

Weekly Support: 3313,3284,3256,3228

 

SBIN

Trend Deciding Level: 563

Weekly Resistance:568,575,582,587,592

Weekly Support:555,550,545,539,533

 

Kotak Bank

Trend Deciding Level: 1752

Weekly Resistance: 1769,1790,1811,1831

Weekly Support: 1729,1708,1687,1666

 

ITC 

Trend Deciding Level: 387

Weekly Resistance: 390,393,396,399

Weekly Support: 384,380,377,374,370

HUL

Trend Deciding Level: 2485

Weekly Resistance: 2511,2536,2562,2588,2614

Weekly Support: 2466,2450,2433,2400

 

 

  • All prices relate to the NSE Spot/Cash Market

  • Keep Max SL of 1% Fron Entry

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