The four time frames considered here are Annual,
Monthly, Weekly & Daily. The Resistance levels are named RA, RM, RW
& RD and the corresponding Support
levels are named as SA, SM, SW & SD. The range given in the table should be
considered as a normal trading range for the given time frame.
The market price will have very good momentum on the
upside as long as it remains above all the four Resistance levels referred
above and conversely, will have very good momentum on the downside as long as
the market price remains below all the four support levels mentioned above.
In my experience of using this idea, I have found that
it provides resistance/support at least
for once and on many occasion, it becomes top/bottom price which will hold for
quite some time.
RA/RM & SA/SM are suited for both –
traders/investors, whereas RW/RD & SW/SD are ideally suited for traders.
Resistance and Support levels can also be used as
meaningful stop loss levels – trading
the markets without using stop loss is a
first step to financial disaster.
With a view to illustrate how effectively this idea
works, I have enclosed a monthly chart of Banknifty Future with lines marked RA
level (in Red) and SA level (in Green). The Second Chart of Nifty Fu (60 min) shows RM
& SM levels (in Blue).
I will be sending separate Tweets for the following
segments, before the respective markets open:
EQ - Nifty
Future & Bank nifty Future
MCX - Gold
& Silver
US MKTS - DJIA
& NASDAQ
It will be better to watch the market movement for a
few days with the above perspective and I am sure you will realise its
effectiveness.
Disclaimer:
The above write up and the daily tweets giving TURNING
POINT Levels are given for academic purpose only. However, if you choose to use
it for trading/investment purpose – you
will be doing so at your own risk and consequences and the undersigned takes no
responsibility for the same.
With Best Wishes,
Ketan Asher.
13.10.2015
13.10.2015
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| NIFTY FUTURE 60 MIN |
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| BANK NIFTY FUTURE MONTHLY |
