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FINALLY NIFTY MOVED OUT OF THE TRADING RANGE. PRICE WISE TREND HAS BECOME BULLISH BUT I ADVISED TO AVOID LONG AND WAIT FOR A DIP BECAUSE GANN PRESSURE DATES ARE AHEAD. GANN TIME RULES INDICATE 6TH TO 9TH AUG IS A BIG PRESSURE AREA. THERE ARE HIGH CHANCES OF A CORRECTION FROM HERE BUT ANY CORRECTION BELOW 15900 IS NOT A GOOD SIGN FOR BULLS. TO SUSTAIN A MEANINGFUL BREAKOUT NIFTY MUST MAKE NEW HIGH 10TH AUGUST ONWARD. SO WATCH CAREFULLY THESE DATES AND GANN LEVELS.
F&O Trade setup-
REMEMBER THE RULE SUPPORT CAN BECOME RESISTANCE AND VICE-VERSA
Major Gann support levels for this week are 15640-16200-16140-16070-15900-15790-15450 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 16342-16390-16472-16555-16642
GANN TIME CYCLE TRADES--
HIGH RISK & HIGH REWARD TRADES --
SINCE NIFTY HAS GIVEN A CLOSING ABOVE 16000, SO THOSE WHO HAVE A POSITION IN DEC EXPIRY 15000 AND ABOVE PUTS, JUST HOLD ON. NEXT ROUND OF REMAINING 50% POSITION SHOULD BE ADDED IN DEC EXPIRY 16000+ STRIKE PRICE PUTS. WE WILL INDICATE IT HERE , WHEN TO ADD FURTHER POSITIONS.
12500 AND LOWER TARGETS ARE POSSIBLE THIS YEAR ,SO NO CHANGE IN STRATEGY.
NIFTY WILL FALL 25-30% AS CORRECTION IS OVER DUE SINCE MARCH 2021. THE PRESENT RALLY IS AN EXTENDED ONE AND HAS POTENTIAL TO GIVE A FALL LIKE 2008 .
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
PIDILITE FUTURE(AUG)
F&O TRADE SETUP :- TREND -BEARISH TILL BELOW 2310 . . Strong Gann support zones 2209-2160-2109-2070. Strong Gann Resistance zones 2260-2282-2310
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.
MUTHOOTFIN FUTURE(AUG)
F&O TRADE SETUP :- TREND - BEARISH TILL BELOW 1600. Strong Gann support zones 1505-1460-1445-1370 Strong Gann Resistance zones 1600-1645-1681
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.