RAMKY Gann Fan, Elliot wave, Fib based targets

7 ago

I have drawn Gann fan and Elliott wave for Ramky, till 1011 (LTH) these lines must work well, so far worked well as it can be seen. When it moves up near the Gann fan lines it is getting resistance and when it come down it is getting support from Gann fan lines.

These lines can help to book partial profit and buy again on lower levels - basically buy on dip sell on high.

8 ago

Nota

I am not giving any buy or sell call here but helping anyone to take the right decision with the help of Gann fan lines and trendlines drawn.

Looking at the current state the stock is below purple Gann fan line but above the trendline in red, so
Case I: closing below 700 can take the stock down till 650 Fib Level where the fib level 720 can act as stop loss.

Case II : Closing above purple line means 730-33+, then it can go up to 790 Fib level where the red color Gann fan line will act as resistance. Again a little below the purple line the 720 fib level can be your stop loss.

So breakout from these lines and price action must be combined to take a trade.

and do not forgot to trail the stop loss once you have some good move

13 ago

Nota

It is still well inside the support line, tomorrow or day after tomorrow it can give breakout in either direction

15 ago

Nota

BINGO : Finally it gave breakout on lower side following CASE#1 and went till 645 ... :)

and from the said level (645 was the low) it moved up by 20+ points.