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YOU MUST HAVE NOTICED THAT ON POPULAR BUSINESS TV CHANNELS , NOBODY IS WILLING TO GIVE NIFTY RESISTANCE LEVELS JUST BECAUSE NIFTY IS TRADING IN "UNCHARTED TERRITORY" OR IN "BLUE SKY ZONE". BUT IN GANN SYSTEMS THERE ARE NO SUCH CONSTRAINTS . IN FACT THE GANN SYSTEM IS CAPABLE OF FINDING ACCURATE LEVELS IN ANY ZONE FOR ANY SCRIPTS.
Last week Nifty made many attempts but was unable to close above 17400 which was a death zone as predicted earlier.POWER OF GANN.
The coming week is extremely important as both Pressure dates and Price Death Zones are nearby.
IF NIFTY IS ABLE TO CLOSE ABOVE 17400 THEN NEXT IMPORTANT GANN DEATH ZONE LIES NEAR 17670 TO 17760 AND NEXT VERY IMPORTANT PRESSURE DATE IS AROUND 13TH TO 15TH SEPTEMBER 2021.
As a trader, you must focus on the above and at least reduce your longs ,if you do not like to short. But remember all the above levels and dates will become null and void if Nifty is able to close above 17770 and also the high made till 15th September. So first watch 17400 on closing basis if this violates then watch 13-15th September HIGH and 17770 on closing basis.
F&O Trade setup-
REMEMBER THE RULE SUPPORT CAN BECOME RESISTANCE AND VICE-VERSA
Major Gann support levels for this week are 17240-17050-16900-16700-16550-16200 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 17400-17500-17690-17752-17915-18230
GANN TIME CYCLE TRADES--
HIGH RISK & HIGH REWARD TRADES --THOSE WHO DO NOT WISH TO GO AGAINST TREND SHOULD AVOID THIS COLUMN.
NIFTY HAS RUN UP QUITE A LOT SINCE FEB 2021 HIGH AND CORRECTED VERY SMALL IN BETWEEN JUST 500 OR 1200 POINTS APPROX TILL TODAY.THOSE WAITING FOR A MEANINGFUL CORRECTIONS MUST BE FED UP BY NOW. WHAT I AM TRYING HERE TO DO IS THE MOST DIFFICULT TASK OF FINDING A BULL MARKET TOP.
AS PER MY STUDY IT IS TIME TO TIGHTEN YOUR BELT , AS WE MAY WITNESS SUDDEN DEATH IN THE MARKET ANYTIME SOON.
THOSE WHO ARE HOLDING DEC EXPIRY 16500 AND 17000 PUTS , MUST HOLD AND ADD MORE PUTS NEAR GANN PRESSURE PRICE AND TIME ZONE, IF YOUR POCKET ALLOWS IT.
YOU ARE FREE TO BOOK PARTIAL PROFITS ANY TIME IF YOU HAVE MULTIPLE LOTS OF PUTS BUT DO HOLD SOME POSITIONS TILL YOU GET A MEANINGFUL CORRECTIONS OF 3000 TO 5000 POINTS IN NIFTY.
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
DEEPAKNTR FUTURE(SEP)
F&O TRADE SETUP :- TREND -BULLISH TILL ABOVE 2300, THEREAFTER SIDEWAYS TO DOWNWARD . Strong Gann support zones 2340-2315-2210-2180-2040. Strong Gann Resistance zones-2415--2500-2605-2710
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.
IBULHSGFIN FUTURE(SEP)
F&O TRADE SETUP :- TREND - BEARISH TILL BELOW 260. Strong Gann support zones 221-215-196-170- Strong Gann Resistance zones 240-250-260-290
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.TAKE MAJORITY TRADES IN THE DIRECTION OF TREND.