Nifty Mid Select Index is the most tradeable or rather enticing Index to trade in recent trading world. The bigger lot size is alluring traders to make quick buck on it. This Index started its journey like other prominent Indices on a high note shade above the Target 3 level. It’s drop to Target 1 was no surprise to Gann Swing traders. We formed a triple bottom around the Target 1 level with intermittent hits of Target 2 and missing the Target 3. This was the warning signal of lower high formation early in a monthly series which sets the tone for the series. Failure to clear the Target 3 level was disastrous for the Index which saw a steep downfall to the downside breakdown level. We saw a sharp bounce back to Target 1 level which was nearly hit. Failure to clear the Target 1 level saw again a fall to make a higher low near downside breakdown level. We saw a good recovery thereafter which cleared Target 1 Level high established earlier by hitting the Target 2 level. But run was over and we dropped again below by hitting Target 1 level and upside breakout level. Swing chart suggest the Index needs to sustain above the upside breakout level for further recovery on the Index. Gann Swing Traders can watch the Gann Swing levels for their trading bias and make some decent profits by staying with Gann Swing Flow of price action on the swing chart.
Gann Swing Knowledge is the most essential for the traders who do not have Time to sit in front of the screen watching every small swings happening on the chart. For them Gann Swing Study will guide them for Positional trades which are more profitable than Intraday trades with rare stop loss hits.
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