HOW TO USE TURNING POINT LEVELS

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

Twitter handle @myturningpoints 

NIFTY FUTURE 60 MIN

BANK NIFTY FUTURE MONTHLY