AOT WISHES A VERY HAPPY & PROSPEROUS 2021 TO ALL TRADERS AND INVESTORS
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Last week Nifty made an" OUTSIDE GANN BAR" on weekly chart . 14653 was the high of last to last week which was broken on 21st Jan but it could not sustain there and closed much below the same day. In fact Nifty was unable to close above 14653 on any day after this high was made. So it indicates the TOP was already in place but for academic purpose we will remember the new high as 14753. Surprising this new high was very close to the GANN resistance level given in advance in the Trade Setup last week.
TREND IS NOW "SELL ON RALLIES" AND THOSE GOING FOR ANY LONG TRADE AS GIVEN IN THE TRADE SETUP MUST BE VERY STRICT ABOUT STOP LOSS AS THERE ARE HIGH CHANCES THAT MAJORITY OF GANN SUPPORT LEVELS CAN BE BROKEN IN ANY PANIC DECLINE.
F&O TRADERS- THOSE WHO ARE HOLDING MARCH EXPIRY 14500 PUTS CAN BOOK PARTIAL PROFIT AT EVERY FALL BUT DO HOLD SOME QUANTITY FOR BIGGER PROFITS. STOP LOSS WILL BE CLOSING ABOVE 14800.
TRADERS -Follow the Gann levels and trade setup as given below.
TRADE SETUP :
* ALL THE TRADE SETUPS GIVEN BELOW ARE VALID FOR THE WEEK ONLY.
Profit booking levels are not given below as either you can book profit as per your risk appetite or you can treat all resistance and support levels given below as profit(partial/full) booking levels . Trend following and maximizing profit is an ART which is taught to all Gann students at ART OF TRADING
1) Go long if nifty trades in the zone of (14040-14080)-(13950-13970)-(13750-13780)-(13400-13450)-(13100-13150). Keep 20 points closing stop loss below these zones.
2) Go short in the zone (14650-14680)-(14760-14780)-(14950-15050). Keep Closing Stop loss of 20 points above this zones.
STOCKS RECOMMENDATIONS ARE DISCONTINUED TEMPORARILY AS MARKETS ARE IN A HIGHLY OVER HEATED ZONE AND CHANCES OF A POSITIONAL TRAP ARE VERY HIGH. IT WILL START ONCE AGAIN AFTER THE VOLATILITY SUBSIDES AND RISK FACTORS ARE MINIMIZED.
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