0I will just analyze how Gann Angles, RSI, and futures data helped to capture today's move.
Following observations on various charts:
- Yesterday's low was an exact reversal from Weekly 45-degree (1/1), Gann Angle.
- On the Daily chart, RSI made Bullish "W" pattern.
- On the Hourly chart Bullish MA ( I use 30-EMA/40-MA) crossover after Bearish crossover on May 5
Futures Data
- Huge reduction in OI (short covering of positions added on May 22)
- Future to spot premium changed from -63 to +5
This information created a Bullish view of Banknifty.
The signal for Big Move Today:
Exact opening on Banknifty Gann Degree Number 17600 (opening was @ 17603). This signaled BIG Move(700-800). My target because of this opening is 18300 i.e. next Gann Number. It actually moved too far from even 18300 (not expected).
