16 aug close trend

Nifty       24541  , +200 

Gann level   23300 < 23600 < 24000
                    < 24400 > 24800> 25200

Movg avg 50/200
15min    24300    /24300
60min   24500  ,/ 24500
daily      24100    /22400

Trade   Trend  Entry  Stoploss  Gain
Hour      UP    24300     24500    250
Day        UP     24400    24500,   150
Week      UP    19000    24100    5500
Month    UP     11000    21500    13500

MCX BULLION INDEX , cmp - 17860

              Trade 200ma 500 ma

             Trend Stoploss Trend Stoploss

4 hour down 18200 UP 17500

Day           UP 17200 UP 16100

 

After 2010 , almost every year nifty touch, break, bounce from 500 dma, which is now at 20300, rising 50 point weekly,
Fail to bounce will confirm bear phase in market.
In 2020 covid crash, 500 wma was  support to bounce