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ART OF TRADING APP: iOS application
ART OF TRADING APP: Android application
NIFTY DID CLOSE ABOVE 15470 AND RALLIED FURTHER FROM THERE AROUND 300 POINTS. SO FAR IT HAS MAINTAINED THE UPWARD MOMENTUM BUT THE MAJOR INDICES LIKE BSE SENSEX AND BANK NIFTY ARE YET TO MAKE A NEW LIFE HIGH. THIS INDICATES SOME MISMATCH AND IT IS TIME TO BE VERY CAREFUL IN ALL LONG TRADES IN NIFTY. 15750 TO 15900 IS A HEAVY CONGESTION ZONE AS BIG GANN RESISTANCE LEVELS ARE PRESENT IN THIS ZONE AND IT WILL BE REAL DIFFICULT FOR NIFTY TO GIVE A CLOSE ABOVE THIS ZONE. SO EXIT FROM ALL LONG TRADES AND HIGHLY DISCIPLINED TRADERS CAN CREATE SHORT NEAR THIS ZONE OR CAN BUY AT THE MONEY PUT OPTIONS AND KEEP CLOSING STOP LOSS ABOVE 15900.
F&O Trade setup-
REMEMBER THE RULE SUPPORT CAN BECOME RESISTANCE AND VICE-VERSA
Major Gann support levels for this week are 15600-15430-15330-15125-15040-14880 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 15760-15835-15900-16130
GANN TIME CYCLE TRADES--
THOSE HOLDING JUNE EXPIRY PUT OPTIONS AND ALSO HAVE ADDED MORE POSITIONS AT EVERY 500 POINTS RALLY CAN ADD LAST INSTALLMENT HERE AND WAIT TILL EXPIRY.
HIGH RISK & HIGH REWARD TRADERS --THOSE WHO WHO ARE WAITING FOR 12500 AND LOWER TARGET CAN ADD POSITIONS IN DEC 2021 EXPIRY 15000 AND ABOVE PUTS. NIFTY WILL FALL 25-30% AS CORRECTION IS OVER DUE SINCE MARCH 2021. DISTRIBUTION PHASE IS GOING ON. THE PRESENT RALLY IS AN EXTENDED ONE AND HAS POTENTIAL TO GIVE A FALL LIKE 2008 ANY TIME SOON.
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
MUTHOOT FINANCE FUTURE(MAY)
F&O TRADE SETUP :- TREND - BULLISH . Strong Gann support zones 1490-1440-1400-1325-1250. Strong Gann Resistance zones 1555-1600-1680-1765
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.
AUROPHARMA FUTURE(MAY)
F&O TRADE SETUP :- TREND - SIDEWAYS. Strong Gann support zones 950-930-888-840 Strong Gann Resistance zones 987-1015-1045-1070
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.