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Last week it was clearly indicated regarding the upcoming Gann Pressure Dates .Nifty made a top of 15430 exactly on 16th FEB a pressure date and corrected more than 500 points from there.
F&O Trade setup- Watch closely the low made last week 14900 . Nifty made an outside bar on a weekly chart. Any closing below 14900 will indicate further downside for a very deep correction. If the last week low 14900 is not broken convincingly then it may act as a Support level and a technical bounce is possible from this level. Major Gann support levels for this week are 14900-"14750 to 14820"- 14500-14330-14200-13880-"13575 to 13600"-Creating long trades near Gann support levels is suitable only for highly disciplined traders with strict SL below support zones. Major Gann resistance levels are 15076-15170-15255-"15430 to 15450"- "15525 -15578"--15630- 15700-15960
GANN TIME CYCLE TRADES--
HIGH RISK AND LONG TERM F&O TRADERS WHO ARE HOLDING SOME POSITION IN NIFTY MARCH SHOULD BOOK PARTIAL PROFITS AT EVERY 500 POINTS FALL AND ADD FURTHER POSITIONS ON EVERY RALLY. THOSE AIMING FOR VERY BIG GAIN (PROFIT 2000++ POINTS) MUST START ADDING JUNE 2021 ATM PUTS ON EVERY RISE. IF 15430 IS BROKEN ON CLOSING BASIS THEN THIS RALLY CAN EXTEND TILL FIRST WEEK OF MARCH 2021. KEEP SOME SPARE MONEY TO ADD JUNE SERIES ATM PUTS IN THE FIRST WEEK OF MARCH. I EXPECT VERY DEEP CORRECTIONS AND MAY BE A VERTICAL FALL WHICH HAS MINIMUM TARGET OF 12400 AND HAS POTENTIAL TO TAKE NIFTY INTO 4 FIGURES IN COMING MONTHS.
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
TAKE EXTREME CAUTION IN ALL LONG TRADES FOR ALL THE STOCKS RECOMMENDED BELOW AS LOWER SIDE RISK IS HUGE .
PEL FUTURE(FEB)
F&O TRADE SETUP :- TREND -BULLISH . Strong Gann support zones "1790-1805"-"1715-1730"-"1640-1650"- "1600-1610". Strong Gann Resistance zones "1890-1895"- "1935-1965"-"2050-2085".
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.
BAJAJFINSRV FUTURE(FEB)
F&O TRADE SETUP :- TREND -BULLISH . Strong Gann support zones "10120-10140"-"9830-9950"-"9440-9480"-"9000-9050". Strong Gann Resistance zones "10565-10630"- "11050-11100"-"11600-11650"
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.