Nifty: Using Square of 9 Technique
We have been accurate in capturing the move of
Nifty when it whipsawed from the 5600 and later opened with a gap up which was
unfilled. We captured the trend only with the help of advance technicals such
as Gann analysis and its master calculator Square of 9; again we used simple
technicals such as channels, retracement to predict the support and resistance
for this index.
Other oscillators
such as Daryl Guppy has given a buy signal along with moving average of 20 EMA
and 50 SMA has given a bullish crossover which opens positive possibilities for
this index. As far as 5905 is protected on downside our bias continues to be
positive for Nifty.
Using square of 9
technique we found the date where the trend of Nifty changed which we have
explained below. The below chart explains the use of square of 9.
Nifty Daily Chart
Analysis
Nifty made a low on
10th of April 2013 at 5477 and then it moved higher and made a high
of 6229 on 20th May 2013. To predict the future we have to go to the
past which we already did. The difference of angle between these 2 dates is …..
degree. Now if you apply the same degree from 20th May it will come
to 25th June and that is exactly the date on which the Nifty made a
low of 5570 and moved higher.
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