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Nifty gave a buy signal on monday and there after it remained the whole week in the range of Gann support and resistance of 10760 -10930. Thus giving opportunity to both buyer and short sellers. This week will also the range will play an important role and any breakout will indicate the next directional move. So follow the trade setup as 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) Hold long till Nifty closes below 10750.
2) Go long if trades closer to 10660 and keep stop loss below 10640 on closing basis.
3) Buy if trades closer to 10580 and keep closing stop loss below 10550.
4) Go short if nifty trades near 10930. Keep 20 points closing stop loss above 10930.
5) Go long if nifty closes above 10950 and keep closing stop loss below 10920.
On monday it gave a buy trade at opening bell above 26500. Thereafter it went into a profit of 150 points intraday but unfortunately at closing bell it went below 26450 and hit the stop loss. This is a very good example as why I always reccomend to book partial profit in every trade. Later on on wednesday a superb short trade was generated near 26760 which eventually was converted into a profit of 400 points by closing of the week. This is a marvellous display of powerful Gann levels. Follow the trade setup given below with total 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 26280 and keep 50 points trading stop loss below this.
2) Go short if trades closer to 26760 and keep trading stop loss above 26800.
3) buy if trades above 26800 and keep closing stop loss below 26740.
3) Buy if trades near 26000 and keep closing stop loss below 25950.
4) Buy if trades closer to 25650 and keep closing stop loss below 25600.
5) Go short if trades near 27150 . Closing stop loss above 27200.
6) Buy if closes above 27200 and keep closing stop loss below 27150.
7) Go short if trades near 27650 and keep 50 points closing stop loss above this level.
8) Go long if closing is above 27700 and keep closing stop loss below 27600. Low ris traders can buy July 27800 call if the trade is initiated and keep the same stop loss.
A superb shorting opportunity in Gold was provided on thursday near 1310 and almost 30 points profit was made by Friday in just one trading day. Follow the trade setup given below for the coming week.
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 maximizing profit is an ART which is taught to all Gann students at ART OF TRADING.
1) Buy if trades near 1280 and keep closing stop loss 10 points below 1280.
2) Buy if trades closer to 1250 and keep closing stop loss below 1230.
3) Go short if it trades near 1310 . Keep 10 points trading stop loss.
4) Go short near 1325 and keep 10 points closing stop loss above 1325.
5) Go short if trades near 1336 and keep 10 points trading stop loss.
6) 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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