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ART OF TRADING APP: iOS application
ART OF TRADING APP: Android application
LAST WEEK NIFTY FORMED A NEW ALL TIME HIGH BUT CLOSING WAS NOT ENCOURAGING. AS I INDICATED LAST WEEK THAT TECHNICALLY NIFTY HAS GIVEN AN UPWARD BREAKOUT ABOVE 15100 ON 18TH MAY AND SINCE THEN 2 WEEKS HAVE GONE BUT JUST 350 POINTS UPWARD MOVEMENT. SOMEHOW STILL I AM STILL NOT CONVINCED WITH THIS BREAKOUT AS THE STRENGTH IS MISSING. SO BE CAREFUL WHEN NIFTY SPOT CLOSES BELOW 15300. TILL THEN KEEP LOW PROFILE AND WAIT FOR A CLOSING ABOVE 15470 TO INDICATE MORE STRENGTH.
F&O Trade setup-
REMEMBER THE RULE SUPPORT CAN BECOME RESISTANCE AND VICE-VERSA
Major Gann support levels for this week are 15300-15200-15050-14850-14590-14400 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 15470 -15525-15630-15835-15900
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 ADD POSITIONS AT EVERY 500 POINTS RALLIES. SINCE 16TH FEB NIFTY HAS FALLEN MORE THAN 1000 POINTS AND HAS PROVIDED SEVERAL 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 END. TARGET EXPECTATION OF 12400 IS LIKELY AND HAS POTENTIAL TO TAKE NIFTY INTO 4 FIGURES ONCE IT GIVES A WEEKLY CLOSING BELOW 12300 . 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
DIVISLAB FUTURE(MAY)
F&O TRADE SETUP :- TREND - BULLISH . Strong Gann support zones 4050-3950-3870-3700. Strong Gann Resistance zones 4250-4360-4500-4625
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. TAKE MAJORITY TRADES IN THE DIRECTION OF TREND.
GRASIM FUTURE(MAY)
F&O TRADE SETUP :- TREND - DOWN. Strong Gann support zones 1425-1350-1250-1225 Strong Gann Resistance zones 1525-1600-1685-1765
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.TAKE MAJORITY TRADES IN THE DIRECTION OF TREND.