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Congratulations to all the subscribers for windfall profit in 14500 puts . The put price has become more than double in just a couple of week. Last week I clearly indicated that trend is Sell on rallies and you must have witnessed that all rallies faced huge selling pressure. There is no change in trend but volatility may increase substantially this week on account of Union Budget.
MAJOR GANN SUPPORT LEVELS FOR NIFTY SPOT ARE 13400-(13100 TO 13200)- 12335-12440 AND MAJOR RESISTANCE LEVELS ARE (13970 to 14000) - (14200 to 14250)- (14500 to 14625)
HOLD SOME POSITION IN NIFTY MARCH PUTS AND ALSO ADD ATM MARCH PUTS ON RALLIES
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
F&O traders must note the major Gann Levels given above for nifty spot and plan their trade accordingly. This being a budget week no specific stop loss levels are given here. If you are a high risk traders then keep closing stop loss on breach of levels and if you are a low risk traders keep 50 points trading stop loss on breach of levels/zones.
STOCKS RECOMMENDATIONS WERE DISCONTINUED , RIGHTLY AS I ANTICIPATED , MANY TRADERS WILL GET STUCK DUE TO HIGH RISK ENVIRONMENT. EXACTLY THE SAME HAPPENED LAST WEEK.
IT WILL START ONCE AGAIN AFTER THE VOLATILITY SUBSIDES AND RISK FACTORS ARE MINIMIZED.