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ONCE AGAIN POWER & ACCURACY OF GANN LEVEL WAS VISIBLE LAST WEEK. NIFTY CORRECTED ALMOST 450 POINTS FROM THE DEATH ZONE AND TOOK SUPPORT EXACTLY AT GANN LEVEL NEAR 17330.A LONG TRADE WAS ADVISED NEAR THIS LEVEL. A 600 POINTS RALLY STARTED FROM THIS LEVEL AND SURPRISINGLY IT CLOSED EXACTLY NEAR OUR STOP LOSS LEVEL 17850, INDICATING INDECISIVENESS.
NOW WE ARE ENTERING AN EXTREMELY CRUCIAL WEEK. NIFTY WILL FACE A "DO OR DIE" SITUATION THIS WEEK. NOTE DOWN CAREFULLY THE STRATEGIES GIVEN BELOW--------
IF YOU ARE A CONSERVATIVE TRADER-
Wait till 30th Sep or 1st October before creating a big positional trade.By 01st of October(Friday) we will come to know the Monthly(Sep) high and also the weekly high.On Friday at closing bell create a BIG SHORT TRADE either in Future Nifty or buy OCT series 18000 puts. Stop loss will be 50 points above monthly and weekly high on CLOSING BASIS.
IF YOU ARE AN AGGRESSIVE AND HIGH RISK TRADER-
Start creating short position in Nifty future or aggressively buy Oct series 18000 strike price Puts on all these 3 days 29th-30th and 01st Oct. Stop Loss will be 50 points above the monthly and weekly high 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 17600-17280-17000-16900-16700-16550-16200 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 17855-17915-18230-18265-18452-18777-18825.
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.
THE PRESENT BULL MARKET RALLY CAN NOT SUSTAIN BEYOND 21ST OCTOBER 2021. AS PER MY STUDY IT IS TIME TO TIGHTEN YOUR BELT , AS WE MAY WITNESS SUDDEN DEATH IN THE MARKET ANYTIME .
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
ACC FUTURE(SEP)
F&O TRADE SETUP :- TREND -WEAK TILL BELOW 2390 AND VERY WEAK BELOW 2220, . Strong Gann support zones 2280-2220-2135 Strong Gann Resistance zones-2360-2400-2440
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.
LT FUTURE(SEP)
F&O TRADE SETUP :- TREND - BULLISH TILL ABOVE 1690. Strong Gann support zones 1745-1710-1690 Strong Gann Resistance zones 1815-1850-1890-1936
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.