Now I frankly Do Not Know how many of you Read my posts diligently, study them well, remember it during the market hours and try to analyse the trend. However I would still post my earlier Educational Post even at the cost of Repetition.
When today's Open is Gap Down ( Below Previous day's Low ) and comes up then Previous day's Close is very Crucial. If Price crosses above it then it becomes further Bullish for the day.
If today's Close is above previous day's Close then it MAY become super Bullish the next day ( tomorrow ) if today's High is Broken Above.
Today Nifty Opened Gap Down.
Precisely reached Yesterday's Close ( as per 5 min last candle yesterday ) 23990.80 and Fell down Sharply from there.
This level is precisely seen in Support Resistance levels for today @ 23989.55
Also day's 1st 5 minute candle High + 0.2611% indicate the same level.
This is How Mathematical Analysis works .
Nothing much to share today on Sunday Gyaan
In my last video on You Tube I have amply made it clear about Common Points.
There I considered a 5 min candle of CE and PE of the same time and explained how we can look for either a candle pair having 6 and More common points or 3 and Less common points.
Now the same logic one can apply on even Index.
*Following are a few examples in NIfty Spot on Daily Time Frame.*
Mangesh MImportant Numbers
24003.60
23886.30
Already there are so many levels, what was the need of this 2 numbers now ? 😡
Often we see that after a Big Gap Up or Gap Down market remains tightly range bound almost for the rest of the day. In that case we need a range for the same. Hence these 2 numbers .