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ON 23RD MARCH NIFTY RALLIED AND STOPPED EXACTLY NEAR FIRST GANN RESISTANCE LEVEL OF 14850 AS MENTIONED IN LAST WEEK'S NEWS LETTER. IT WAS CLEARLY ADVISED TO SELL ON RALLIES. NIFTY REWARDED HANDSOMELY TO ALL SHORT SELLERS. WATCH CLOSELY THE LEVELS GIVEN BELOW AND MAINTAIN SELL ON RALLIES STRATEGY THIS WEEK ALSO.
F&O Trade setup-
REMEMBER THE RULE SUPPORT CAN BECOME RESISTANCE AND VICE-VERSA
SELL ON RALLIES STRATEGY IS VALID TILL NIFTY DOES NOT CLOSE ABOVE 15090 .
Major Gann support levels for this week are 14360-"14250-14160"-13880- 13690 - 13580 -13400-13100 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 14655-14850- 15070-15140 -15340-15430 - "15525 to 15578"--15630- 15700-15960
GANN TIME CYCLE TRADES--
THOSE WHO ARE HOLDING MULTIPLE LOTS OF JUNE EXPIRY NIFTY PUT OPTIONS FROM 15400 LEVELS MUST BOOK PARTIAL PROFITS AT EVERY 500 POINTS DECLINE AND REENTER AT EVERY 500 POINTS RALLIES. SINCE 16TH FEB NIFTY HAS FALLEN MORE THAN 1000 POINTS AND HAS PROVIDED GOOD OPPORTUNITIES FOR PARTIAL PROFIT BOOKING TO ALL PUT BUYERS. DO HOLD SOME LOTS OF JUNE EXPIRY NIFTY ATM PUTS FOR BIGGER PROFITS. I AM EXPECTING DEEPER CORRECTIONS BEFORE JUNE 2021. TARGET EXPECTATION OF 12400 IS LIKELY AND HAS POTENTIAL TO TAKE NIFTY INTO 4 FIGURES ALSO IN COMING MONTHS. SINCE THIS TRADE HAS NO STOP LOSS LEVEL SO TAKE DECISIONS ONLY IF YOUR RISK PROFILE ALLOWS IT.
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 BEFORE TAKING LONG TRADES IN ALL THE STOCKS RECOMMENDED BELOW AS LOWER SIDE RISK IS HUGE .
TORNTPOWER FUTURE(MARCH)
F&O TRADE SETUP :- TREND - BULLISH . Strong Gann support zones 405-385-370-360-338. Strong Gann Resistance zones .430-441--463-485-507
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.
VEDL FUTURE(MARCH)
F&O TRADE SETUP :- TREND - BULLISH. Strong Gann support zones 220-215-200-185-169. Strong Gann Resistance zones -248-258-272-290
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.