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Gann resistance zone in nifty worked superbly and it corrected more than 175 points from there. Trend remains buy on dips and any closing above 10800 will indicate much higher levels in times to come.
TRADE SETUP :
Trades given in blue colours are very powerful bullish trade and in red colours are strong bearish trades. Profit booking levels are not given below as either you can book profit as per your risk appetite or you can treat all resistance and support levels given below as profit( partial/full) booking levels . Trend following and maximising profit is an ART which is taught to all Gann students at ART OF TRADING.
1) Buy if trades near 10605 keep 10 points trading stop loss
2) Buy if trades near 10520 and keep closing stop loss below 10500.
3) Buy if trades closer to 10375 and keep closing stop loss below 10350.
4) Go short if it trades in the zone of 10770-10800 zone. Keep closing stop loss above 10800.
5) Go long if closing is above 10800 and keep stop loss below 10760 on closing basis.
Last week bank nifty was back in its leadership role. compare the chart of nifty and bank nifty. Closing above 25750 will indicate more strength in this rally and closing below 25430 will indicate some more corrections. Thos who know Gann rules can look at the weekly chart and can see a "SLEEPING TIGER " very clearly.
TRADE SETUP :
Trades given in blue colours are very powerful bullish trade and in red colours are strong bearish trades. Profit booking levels are not given below as either you can book profit as per your risk appetite or you can treat all resistance and support levels given below as profit( partial/full) booking levels .Trend following and maximising profit is an ART which is taught to all Gann students at ART OF TRADING.
1) Buy if trades near 25540 keep 30 points trading stop loss
2) Buy if trades near 25470 and keep closing stop loss below 25430.
3) Buy if trades closer to 25050 and keep closing stop loss below 25000.
4) Go short if it trades closer to 26300 . Big resistance zone 26300 to 26370. So keep closing stop loss above 26370.
No change in view as range bound (1300-1365) trading is continuing in Gold for the last several weeks. Breakout of this range is expected any time now.
TRADE SETUP :
Trades given in blue colours are very powerful bullish trade and in red colours are strong bearish trades. Profit booking levels are not given below as either you can book profit as per your risk appetite or you can treat all resistance and support levels given below as profit( partial/full) booking levels . Trend following and maximising profit is an ART which is taught to all Gann students at ART OF TRADING.
1) Buy if trades near 1300 keep 5 points closing stop loss
2) Buy if trades near 1280 and keep closing stop loss 10 points below 1280.
3) Buy if trades closer to 1240 and keep closing stop loss below 1225.
4) Go short if it trades near 1325 . Keep 5 points trading stop loss above 1325.
5) Go short near 1333 and kee 5 points trading stop loss .
6) Go short if trades near 1344 and keep 5 points trading stop loss.
7) Go short in the zone of 1365-1380 and keep 10 points closing stop loss above this zone.
IMPORTANT TRADING RULES::
PLAN YOUR TRADE THEN TRADE YOUR PLAN.
ALWAYS TRADE NEAR GANN LEVELS TO MINIMIZE RISK.
NEVER BE RIGID IF SUPPORT & RESISTANCE LEVELS ARE BROKEN.
NEVER TRADE WITHOUT STOP LOSS.
PUT STOP LOSS IN THE SYSTEM NOT IN MIND.
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