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You all must have realized by now the importance and power of Gann resistance zone(9150 to 9340) . So watch closely this zone.Buying is not recommended even if this resistance zone is breached.
Any closing above 9400 will indicate some strength in the rally but major trend will still remain down . The next major Resistance zone near 9800-10000. Disciplined traders can buy put options or short sell near all these zones with closing SL above these zones.
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 (8900-8920)-(8750-8770)-(8400-8450)-(7950-8000)-(7500-7550)-(7300-7340). Keep 20 points closing stop loss below these zones.
2) Go short in the zone (9340-9400)-(9500-9550)-(9830-9850) -(9950-10000) . Keep Closing Stop loss of 20 points above this zones.
Trend is UP. Keep buy on decline strategy near Gann levels .
Follow the trade setups 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) BUY zone (615-620)-(550-555)-(520-526)-(485-490) . Keep 5 points closing stop loss BELOW each zone .
Trend is Bearish . Keep short on rise strategy near Gann levels.
Follow the 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 short in the zone of (988-992)-(1018-1023)-(1053-1057)-(1073-1077). Keep closing stop loss of 5 points above each zone.
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