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Last week Nifty remained in a narrow zone but exactly between first and second Gann resistance zones as given last week. Very soon we can expect it to get out of this trading zone as 15th&16th Feb are Gann pressure dates.
F&O Trade setup- Watch closely 15060 and 15280. Either side breakout can start momentum in that direction but journey above 15280 is not going to be smooth as both Gann Pressure dates and several resistance levels lie ahead. On a weekly chart Nifty has formed "SLEEPING TIGER" candle. Gann students are aware of it. Below 15060 it will find some support near 14960 and below this major melt down can happen. So lower side risk is HUGE. Major Gann support levels for this week are "14700-14765"- "14425-14465"-"14330-14350"-Creating long trades near Gann support levels is suitable only for highly disciplined traders with strict SL below support zones. However in case of upward breakout watch closely the major Gann resistance levels are "15335-15375"- "15542-15565"--"15630"
GANN TIME CYCLE TRADES--
HIGH RISK AND LONG TERM F&O TRADERS WHO ARE HOLDING SOME POSITION IN NIFTY MARCH PUTS CAN ADD FURTHER POSITIONS AND THOSE AIMING FOR VERY BIG GAIN (PROFIT 2000++ POINTS) MUST START ADDING JUNE 2021 ATM PUTS ON EVERY RISE. THIS ONGOING BULL MARKET CAN END ANY TIME NEXT WEEK AND IN WORST CASE SCENARIO THIS RALLY CAN EXTEND TILL FIRST WEEK OF MARCH2021. FALL WILL BE VERTICAL AND HAS POTENTIAL TO TAKE NIFTY INTO 4 FIGURES.
TRADing RULES AS PER GANN SYSTEM :
* ALL THE TRADE SETUPS GIVEN ARE VALID FOR THE WEEK ONLY.
Profit booking levels are not mentioned as either you can book profit near Gann support or as per your risk appetite . Trend following and maximizing profit is an ART which is taught to all Gann students at ART OF TRADING
I AM STARTING STOCKS RECOMMENDATIONS FROM THIS WEEK BUT TAKE EXTREME CAUTION IN ALL LONG TRADES AS LOWER SIDE RISK IS HUGE .
ASIAN PAINT FUTURE(FEB)
F&O TRADE SETUP :- TREND -NEUTRAL . Strong Gann support zones "2380-2390"-"2190-2200"-"2140-2160". Strong Gann Resistance zones "2560-2580"- "2625-2635"-"2710-2715"-"2800-2820"
TRADING STRATEGY- Buy near support or breakout of resistance and Short near resistance or break down of support. Stop loss above and below the zones as per trading position. Profit booking targets are next zones or as per individual risk appetite.
RELIANCE FUTURE(FEB)
F&O TRADE SETUP :- TREND -NEUTRAL . Strong Gann support zones "1925-1935"-"1840-1850"-"1670-1680"-"1610-1620". Strong Gann Resistance zones "2120-2130"- "2190-2200"-"2300-2320"
TRADING STRATEGY- Buy near support or breakout of resistance and Short near resistance or break down of support. Stop loss above and below the zones as per trading position. Profit booking targets are next zones or as per individual risk appetite.