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As mentioned below the BIG PRESSURE MONTH effect is clearly visible in Nifty. On both the dates 15th and 21st Oct Nifty tried unsuccessfully to breakout above 12000 but it witnessed big sell off(look at the chart). These dates were already announced in previous week's news letter . 11400 to 12070 trend will remain sideways. Do not trade aggressively bullish even if bullish break out happens as trend reversal is due very soon.
PLEASE NOTE:
Although the trend is Bullish now but as per per Gann PRICE-TIME rules October 2020 is a BIG PRESSURE MONTH. It means that Nifty has very high probability to form a MAJOR TOP this month a BIG REVERSAL can take place from any of the following dates. 14th-20th-27th of this month. So be careful on this dates and protect your trades with strict stop loss. Please provide an error margin of plus/minus one day.
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 (11770--11780)-(11600-1120)-(11390-11410)-(11200-11220). Keep 20 points closing stop loss below these zones.
2) Go short in the zone (12015-12070)-(12150-12170)-(12225-12250)-(12450-12500). Keep Closing Stop loss of 20 points above this zones.
Major trend is UP. Keep buy on dips 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 (1580-1600)-(1540-1560)-(1520-1530)-(1460-1480). Keep 5 points closing stop loss below each zone .
Major Trend is DOWN . Keep Sell 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) Short Sell in the zone of (437-440)-(448-452)-(475-480) Keep closing stop loss of 3 points above each zone.
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