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Nifty went above Diwali high but stopped exactly at next Gann resistance level 12960. We also witnessed more than 200 points correction from Gann resistance level. The longer time frame view as given remains valid and plan your trade accordingly.
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 (12580-12600)-(12490-12530)-(12380-12400)- (12230-12250). Keep 20 points closing stop loss below these zones.
2) Go short in the zone (12960-12980)-(13150-13170)-(13420-13450). 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 (585-593)-(555-560)-(520-525). Keep 3 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 (423-426)-(436-439)-(444-449)-(460-465) Keep closing stop loss of 2 points above each zone.
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