Disclaimer:
This analysis is for educational purposes only. I am not a SEBI-registered advisor. This is not financial advice.
Axis Bank | Educational Observation Using Gann Square of 9
This chart study demonstrates how the Gann Square of 9 (SQ9) can be used to observe price interaction with predefined degree levels. In many situations, price may not interact with these calculated zones, which itself becomes an important observation when studying market structure.
The example below uses historical intraday data from Axis Bank Ltd. dated 08 April 2022, where price movement was analysed using Gann degree levels derived through price-to-degree conversion.
The purpose of this case study is purely educational and aims to show how structured levels help traders observe price behaviour objectively.
Pre-Calculated Gann Degree Levels (Upside Reference)
Using the Gann Square of 9 method, the following levels were calculated in advance:
0 Degree: ₹789
45 Degree: ₹803
90 Degree: ₹817
135 Degree: ₹832
180 Degree: ₹846
These levels act as structured zones where the market may sometimes display temporary pressure, hesitation, or reaction depending on broader market conditions.
Observed Market Behaviour
During the session on 08 April 2022, Axis Bank began moving upward from the reference level around ₹789.
While observing the price action:
• The market showed upward momentum from the reference zone
• However, price did not reach the next calculated degree level near ₹803 (45°)
• Movement remained between the projected levels without completing the expected distance
This type of behaviour can occasionally occur when the market remains balanced within a limited range.
Understanding Degree Interaction
In Gann methodology, price movement is often studied relative to calculated degree distances.
When price approaches a degree level:
• Market behaviour may show temporary reaction or hesitation
• Momentum may slow or consolidate around calculated zones
• Traders observe these interactions to understand price structure rather than to predict outcomes
In this case, the absence of interaction with the 45-degree level highlights how markets can remain within intermediate ranges.
Time Observation in This Session
Some traders also monitor the relationship between price movement and intraday time windows.
During this particular session:
• The market did not approach the next calculated degree level within typical trading hours
• Price remained between predefined reference zones
• This type of movement can sometimes indicate temporary equilibrium between buyers and sellers
Such observations help traders understand how price, time, and structure interact on intraday charts.
Educational Insights from This Example
This historical chart provides several learning points:
• The Gann Square of 9 converts price into structured degree relationships
• Not every session results in interaction with projected levels
• Price may remain between calculated zones during range-bound conditions
• Structured reference levels help traders analyse market behaviour objectively
• Observing such cases can improve discipline in chart analysis
Why Studying Neutral Market Sessions Is Useful
Analysing sessions where price does not interact with calculated levels helps traders:
• Understand range-bound market behaviour
• Recognise periods of lower directional momentum
• Observe how price behaves between structured levels
• Improve patience and analytical discipline
These studies are valuable when learning how markets respond to mathematically derived reference zones.
This chart example is shared purely for educational purposes using historical market data.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.