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17850 was the stop loss level for all short trades. Nifty gave full respect to this level and finally corrected almost 500 pints last week. Those who have bought Nifty 18000 puts must have made good profit .if you are reading my news letter regularly then you must have observed Nifty always reacts to Gann Price and time .But frankly speaking, I am not yet fully satisfied with last week's fall. there is something missing.
Please read carefully every words below as we are entering an extremely volatile and powerful zone as per Gann Time rules.:-
I want you to prepare yourself for all possibilities ,as October is historically a very volatile month. We can witness following scenario in coming days ahead:-
Possibility 1-
Nifty falls further from here and closes below 17280 to indicate much lower levels till 3rd week of October.
Possibility 2-
If Nifty makes new life high on closing basis both in spot and future then BIG POWERFUL RALLY can take place till 21st October(+/- one day) and that will be the ULTIMATE and FINAL TOP of 2021.
An important observation from last week's price movement. Nifty spot made a high of 17943 whereas future nifty hit a high of 18088. Generally we neglect false price movement but this time we have to be extra cautious as this false price movement has created a new LIFE HIGH indicating 18088 is very important for both spot and future nifty.
Just follow your risk appetite and plan your trade accordingly.Do not short rather try to go long, if you see new life high both in spot and future. KEEP SOME SEPARATE FUND to be deployed around 21st October.
F&O Trade setup-
REMEMBER THE RULE SUPPORT CAN BECOME RESISTANCE AND VICE-VERSA
Major Gann support levels for this week are 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 17855-17950-18088-18230-18265-18452-18777-18825.
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
M&M FUTURE(OCT)
F&O TRADE SETUP :- TREND -BULLISH TILL IT STAYS ABOVE 780 . Strong Gann support zones 815-780-760-725 Strong Gann Resistance zones-840-860-880-955
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.
DLF FUTURE(OCT)
F&O TRADE SETUP :- TREND - BULLISH TILL ABOVE 395. Strong Gann support zones 410-395-385-360 Strong Gann Resistance zones 430-441-463-485-507
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.