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INTRADAY TRADERS ( Those who square off all trades at the edn of the day)::
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NO CHANGE IN VIEW OR STRATEGY AS NIFTY IS REMAINING IN AN INSIDE BAR FOR THE LAST FEW WEEKS.
PRESENT CHART OF NIFTY SPOT IS STILL IN BULL GRIP BUT GANN TIME RULES INDICATE A REVERSAL IN THE ONGOING BULLISH TREND WHICH STARTED SINCE DEC 2016 FROM THE LOW OF 7893. FOR TRADE SET UP READ BELOW.
SHORT TERM POSITIONAL TRADES( Holding period 2 to 7 days)::
Nifty was unable to close below 9900 during the last week. Till we get a closing below 9900 it will indicate some bullish bias but below 9900 weakness will be indicated. So plan your trade keeping in ming the importance of 9900 level.
LONG TERM POSITIONAL TRADES( Holding time 1 to 7 weeks)::
There is no change in long term view as nifty is forming only Inside bars for the last 3 weeks(see chart above)
Gann time rules indicate a reversal in trend we may keep sell on rise strategy till Nifty makes a new life high above 10250 on closing basis. The best strategy is to buy Oct or Dec 2017 series ATM puts and add on any substantial rally. Buy Oct/Dec 10000 or 9500 puts and hold till further instructions.
NO CHANGE IN BANK NIFTY CHART . SO NO CHANGE IN VIEW ALSO.
THIS CHART IS STILL SHOWING SOME WEAKNESS IN COMPARISON TO NIFTY . GANN TIME RULES ALSO INDICATE A REVERSAL IN THE ONGOING BULLISH TREND WHICH STARTED SINCE DEC 2016 . FOLLOW THE TRADE SET UP AS GIVEN BELOW DEPENDING UPON YOUR TRADING PROFILE.
SHORT TERM POSITIONAL TRADES( Holding period 2 to 7 days)::
Those who shorted near top of the range must have got around 350 points profit last week.
No change in strategy as It is still confined in the range of 23800 AND 24550. The best way to use of this range is to go short near top of the range and buy near the low of the range . Kee stop loss 20-25 points above/below the range.Continue with the strategy till the range is broken. Break above 24550 will indicate higher levels as per the resistance levels given below.
LONG TERM POSITIONAL TRADES( Holding time 1 to 7 weeks)::
NO CHANGE IN STRATEGY AS INSIDE BARS ARE FORMED IN WEEKLY CHART.
Reversal in bullish trade is also expected here.Keep sell on rise strategy till it makes a new life high on closing basis. Kindly shift the September series puts to October series to avoid erosion of time value in option premium. Low risk traders can keep stop loss above 24555 on closing basis.
BULLISH BREAKOUT IS INDICATED IN THE CHART ABOVE 29800. . FOLLOW THE TRADE SET UP AS GIVEN BELOW DEPENDING UPON YOUR TRADING PROFILE.
SHORT TERM POSITIONAL TRADES( Holding period 2 to 7 days)::
Buy on dips trade must have rewarded you well the last week.So maintain this strategy till you get a closing below 29700.
LONG TERM POSITIONAL TRADES( Holding time 1 to 7 weeks)::
Gold is very close to the 1st bullish target.Keep buy on dips strategy till you get a closing below 29700. Shorting levels will be around 30600 and 31400. These levels can also be treated as targets for long trade. for short trade keep 50 points stop loss above these levels on closing basis.
THIS CHART INDICATES THAT MAJOR TREND IS STILL BEARISH. FOLLOW THE TRADE SET UP AS GIVEN BELOW DEPENDING UPON YOUR TRADING PROFILE.
SHORT TERM POSITIONAL TRADES( Holding period 2 to 7 days)::
Crude corrected almost 140 points from the resistance level near 3150. However stop loss was hit by just 10 points but those who kept closing SL must have got good profit. Short near 3150 and 3255 with 10 points sl above these levels.
LONG TERM POSITIONAL TRADES( Holding time 1 to 7 weeks)::
Enjoy the profit in short trade initiated near 3150 level..
Safe shorting levels are near 3150- 3255- 3370-3430-3480. Since major trend is down you can attempt short at all these levels. keep closing stop loss 20 points above each levels. Book profit as per your PPT(personal profit target).
USDINR FUTURE ROLLING ::
MAJOR TREND IS STILL BEARISH. FOLLOW THE TRADE SET UP AS GIVEN BELOW DEPENDING UPON YOUR TRADING PROFILE.
SHORT TERM POSITIONAL TRADES( Holding period 2 to 7 days)::
Just look at the accuracy of WD GANN rules. It started its correction exactly from 64.41 level. Keep booking profit as per your PPT.Short near 64.5 and 65.5 sl and keep .20 stop loss above each levels.
LONG TERM POSITIONAL TRADES( Holding time 1 to 7 weeks)::
Enjoy your profit in the short trade initiated exactly @64.4
Keep sell on rise strategy .Safe shorting levels are near 64.4 -65.55 -66.5 you can attempt short at alll these levels. keep closing stop loss .50 points above each levels. Major weakness will be indicated once we close below 63.5.
IMPORTANT TRADING RULES::
PLAN YOUR TRADE THEN TRADE YOUR PLAN.
ALWAYS TRADE NEAR RRR LEVELS TO MINIMIZE RISK.
NEVER BE RIGID IF SUPPORT & RESISTANCE LEVELS ARE BROKEN.
NEVER TRADE WITHOUT STOP LOSS.
PUT STOP LOSS IN THE SYSTEM NOT IN MIND.
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