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ON 17TH SEPTEMBER ,ALL OF US WITNESSED THE POWER OF GANN LEVELS. NIFTY CORRECTED MORE THAN 250 POINTS FROM DAY HIGH AND CLOSED WELL BELOW THE "DEATH ZONE" MENTIONED LAST WEEK. THE MOST DIFFICULT TASK IS TO FIND AN ACCURATE & POWERFUL RESISTANCE LEVEL IN AN UNCHARTED TERRITORY IN A STRONG BULL MARKET. YOU WILL NOT FIND THIS KIND OF ACCURACY FROM ANY BUSINESS TV CHANNELS OR FROM ANY TRADITIONAL ANALYSTS.
Those who wish to go for a long trade can act near all Gann support levels given below, with strict stop loss below each levels.17792 is the high made last week. Those who have shorted last week near the Death Zone ,must keep strict closing stop loss above 17850. For the coming weeks the important dates to watch are 21st Sep (a natural seasonal Gann date) and 29 to 30 Sep. If 17850 is broken on closing basis then following levels to act as super strong pressure price area are (18220 to 18265) -(18440)- (18775 to 18825).
F&O Trade setup-
REMEMBER THE RULE SUPPORT CAN BECOME RESISTANCE AND VICE-VERSA
Major Gann support levels for this week are 17330-17240-17000-16900-16700-16550-16200 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 17792-17840-17915-18230-18265-18440-18775-18825.
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 OF 17500 & 18000 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
ESCORTS FUTURE(SEP)
F&O TRADE SETUP :- TREND -BULLISH TILL ABOVE 1350, THEREAFTER SIDEWAYS TO DOWNWARD . Strong Gann support zones 1415-1380-1350-1290 Strong Gann Resistance zones-1470-1485-1525-1600-1640
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.
GLENMARK FUTURE(SEP)
F&O TRADE SETUP :- TREND - BEARISH TILL BELOW 572. Strong Gann support zones 510-484-440-400 Strong Gann Resistance zones 550-572-601-620-633
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.