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IMPORTANT ANNOUNCEMENT:: AOT IS GOING TO LAUNCH VERY SOON A NEW "GANN SQUARE OF 9" APP AT GOOGLE PLAY STORE FOR ANDROID USERS. THIS WILL BE FREE TO USE FOR THE FIRST 30 DAYS. IT WILL HELP YOU IN FINDING IMPORTANT INTRADAY LEVELS FOR MORE THAN ONE THOUSAND NSE SPOT STOCKS. YOU CAN ALSO CALCULATE IMPORTANT GANN RETRACEMENT LEVELS BY USING THIS APP.
NIFTY BROKE THE INSIDE BAR SEQUENCE LAST WEEK AND MADE A DOUBLE TOP. CHART INDICATES BULLISHNESS BUT SOME CAUTION IS NEEDED NOW. NEXT COUPLE OF WEEKS WE ARE GOING TO WITNESS FEW IMPORTANT "GANN PRESSURE DATES". NEXT WEEK WE WILL WRITE IN DETAILS REGARDING IMPORTANCE AND TRADING STRATEGY AS PER PRESSURE DATES.
SHORT TERM POSITIONAL TRADES( Holding period 2 to 7 days)::
Those who have gone long in Nifty with stop loss below 9900 must have got good profit last week. Now it is time to be cautious . To show more strength Nifty must close above 10150 convincingly. Till then just trade range bound in the zone of 9900-10150.
LONG TERM POSITIONAL TRADES( Holding time 1 to 7 weeks)::
No change in strategy. Low risk traders can avoid this trade and wait for last week of Sept to create fresh positions in Nifty options. Details will follow in next week's news letter.
Gann time rules indicate a reversal in trend we may keep sell on rise strategy till Nifty makes a new life high above 10250 on closing basis. The best strategy is to buy Oct or Dec 2017 series ATM puts and add on any substantial rally. Buy Oct/Dec 10000 or 9500 puts and hold till further instructions.
NO CHANGE IN BANK NIFTY CHART BECAUSE INSIDE BAR PHENOMENON STILL CONTINUES.
THIS CHART IS STILL SHOWING SOME WEAKNESS IN COMPARISON TO NIFTY . GANN TIME RULES ALSO INDICATE A REVERSAL IN THE ONGOING BULLISH TREND WHICH STARTED SINCE DEC 2016 . FOLLOW THE TRADE SET UP AS GIVEN BELOW DEPENDING UPON YOUR TRADING PROFILE.
SHORT TERM POSITIONAL TRADES( Holding period 2 to 7 days)::
Last week it broke above 24550 and it rallied almost 500 points from there. So now 24550 to act as support and 25000 as short term resistance. Plan your trade accordingly.
LONG TERM POSITIONAL TRADES( Holding time 1 to 7 weeks)::
NO CHANGE IN STRATEGY AS INSIDE BARS ARE FORMED IN WEEKLY CHART.
I hope low risk traders must have exited their positions above 24550. Those willing to take risk can add Oct series ATM puts and keep sl above 25270 on closing basis.
FOLLOW THE TRADE SET UP AS GIVEN BELOW DEPENDING UPON YOUR TRADING PROFILE.
SHORT TERM POSITIONAL TRADES( Holding period 2 to 7 days)::
Keep buy on dips strategy till you get a closing below 29700. Can short near 30200 with 50 points sl.
LONG TERM POSITIONAL TRADES( Holding time 1 to 7 weeks)::
Gold is very close to the 1st bullish target.Keep buy on dips strategy till you get a closing below 29700. Shorting levels will be around 30600 and 31400. These levels can also be treated as targets for long trade. for short trade keep 50 points stop loss above these levels on closing basis.
THIS CHART INDICATES THAT MAJOR TREND IS STILL BEARISH. FOLLOW THE TRADE SET UP AS GIVEN BELOW DEPENDING UPON YOUR TRADING PROFILE.
SHORT TERM POSITIONAL TRADES( Holding period 2 to 7 days)::
Crude stopped 3243. Very close to gann resistance level 3255 as given last week. It corrected almost 100 points from there.
LONG TERM POSITIONAL TRADES( Holding time 1 to 7 weeks)::
No change in strategy.
Safe shorting levels are near 3255- 3370-3430-3480. Since major trend is down you can attempt short at all these levels. keep closing stop loss 20 points above each levels. Book profit as per your PPT(personal profit target).
USDINR FUTURE ROLLING ::
MAJOR TREND IS STILL BEARISH. FOLLOW THE TRADE SET UP AS GIVEN BELOW DEPENDING UPON YOUR TRADING PROFILE.
SHORT TERM POSITIONAL TRADES( Holding period 2 to 7 days)::
Short near 64.5 and 65.5 sl and keep .20 stop loss above each levels.
LONG TERM POSITIONAL TRADES( Holding time 1 to 7 weeks)::
Keep sell on rise strategy .Safe shorting levels are near 64.4 -65.55 -66.5 you can attempt short at alll these levels. keep closing stop loss .50 points above each levels. Major weakness will be indicated once we close below 63.5.
IMPORTANT TRADING RULES::
PLAN YOUR TRADE THEN TRADE YOUR PLAN.
ALWAYS TRADE NEAR RRR 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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