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Nifty rallied handsomely from the gann support of 10600 and finally crossed the resistance zone and also closed above this zone. We are expecting a big volatile week ahead as Karnataka assembly election results can dominate the sentiments in the market. So trade with discipline and do not bargaing with stop loss orders. Trend remains buy on dips . Initiate your trades as per the trade setup guidelines given below.
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) Go long as closing is above 10800 and keep stop loss below 10760 on closing basis.
3) Buy if trades closer to 10375 and keep closing stop loss below 10350.
4) Go short if closing is below 10760. Keep closing stop loss above 10800.
5) Go short if trades near 11090 and kee 30 points closing stop loss above this level.
As indicated last week that Bank nifty has already taken the leadership role and closing was well above 25750 on monday inteslf . A good rally of more than 600 points started from there. It finally closed above the resistance zone indicating further upmove. Those who have traded long on the basis of "Sleeping Tiger" candle must have made good profit last week. Trend remains buy on dips.
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) Go long near 26400 as closing is well above the resistance zone . Keep closing stop loss below 26300.
2) Buy if trades near 25950 and keep closing stop loss below 25900.
3) Buy if trades closer to 25470 and keep closing stop loss below 25420.
4) Go short if it trades closer to 27000 . Stop loss above 27050.
5) Go short if trades near 27650 . Closing stop loss above 27700.
No change in view and trade setup as range bound (1300-1365) trading is continuing in Gold for the last several weeks. Last week both long and short trade has given profit if you followed the trade setup with discipline.
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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