Nifty Spot

Nifty will take support @ 5596. One can go long @  5596 with 10-15 points as stoploss. Break of 5596 will take nifty to 5535.                                                  Support @ 5585,5535, 5495, 5436

Resistance @ 5650, 5778, 5830.
Again & again nifty is taking support @ Gann angle. So with risk of 10-15 points a long trade can be initiated. And closing below 5596, one should initiate a short trade with 10-15 points as stop loss.

Happy Deepawali

Diwali Greetings to all of you & your family members. May this Diwali brings with it a lot Happiness, Success & Peace for all of you.....

Idea

There is a negative WolfeWave in Idea in daily & weekly chart and my studies says that it should go upto 97.6 levels as it is Gann retracement level. It can also touch 102-103 levels and it will make a tripple top there. A short can be initiate in this counter @ 97.5 and 102-103 levels with stoploss @ 105.

Mcdowell

Cheers to McDowell. 
Everyone was fearing to take short in this extra bullish stock but for a Gann trader 1425 was a known level. A close above 1425 will take this counter to 1675 levels. One can take short in this counter @ 1420 levels with tight stoploss above 1430. And a close above 1425, one should exit from their short and initiate a long trade in it.

SBIN

Today (09/11/2012) Sbi is trading @  2260 levels. With my little experience and from my point of view a short can be taken @ 2260  with strict stoploss @2275 (Cash) Target 2174 , 2081. As yesterday (08/11/2012)  SBI was not able to close above the Gann Angle. See the attached chart

Yes Bank

Today on 01Nov2012 Yesbank closed @ 412.5.Yesbank will go up to 428. If Yesbank is able to close above 428 then the next resistance level is 447 which is a Square of 9 level. @ 428 it is a level where price & time will get square with each other.One should book (80%) partial profit @ 428 and hold rest shares for the target of 447.

Nifty & Banknifty

These are weekly chart of Nifty & Banknifty. 

Nifty is taking support @ 5611. A long can initaited @ 5611 for the target of 5700, 5752. A weekly close below 5611 will drag it to 5514, and then to 5489 levels.

Bank nifty is taking support @ 11106 level. A long can be initiated @ 11106 with Sl 11000 for the target of 11820.
A closing below 11106 will drag it to 10800
In Nifty 5611 level is to watch on Friday (02/11/2012) closing basis. If the price is closing below 5611 then definitely nifty will drag to lower levels mentioned above.
In Banknifty also closing below 11106 level is essential for it to drag down to the lower levels mentioned above.