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Nifty has clearly shown that 16th Feb was a a very important Gann Pressure date which resulted in almost 1000 points correction so far. I also indicated that PUT Buyers should keep on booking partial profits at every 500 point correction and add further positions on every rally. Continue with this strategy even for this week.Last week we witnessed a rally on 24th and 25th and the rally stopped exactly at Gann resistance level near 15170. Bottom made last week was also very near to Gann support of 14500.
F&O Trade setup- As per Gann rules if nifty breaks and closes below the low of last week(14667) by more than 50 points then this will be another big confirmation of a MAJOR TREND REVERSAL . Major Gann support levels for this week are "14460 to 14512"-14330-"14160 to 14220"-13880- 13690 - 13580 -13100 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 "14640 to 14710" - 14920-"15130 to 15170"-"15430 - "15525 to 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 ADD AND HOLD SOME POSITIONS IN 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 .
M&M FUTURE(MARCH)
F&O TRADE SETUP :- TREND -BULLISH . Strong Gann support zones "800 to 805"-"717 to 745"-" 661-599"- "565 to 585". Strong Gann Resistance zones "855 to 870"- "879 to 882"-"904 to 924"-:"950-960".
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.
MARUTI FUTURE(MARCH)
F&O TRADE SETUP :- TREND -NEUTRAL . Strong Gann support zones 6850-"6550 to 6600"- "6240 to 6280"-6160. Strong Gann Resistance zones 7090-7230-7350-"7570-7590"-"7810 to 7840"
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.