BANK NIFTY SPOT

Bank nifty did provide an excellent opportunity of a long trade near 26280 and the stop loss was just saved as it could not sustain below 26230 even for a minute. This trade has given a profit of almost 500 points by the end of the week. 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 above 26800 and keep closing stop loss below 26740.

2) Buy if trades near 26400 and keep closing stop loss below 26350.

3) Buy if trades closer to 26000 and keep closing stop loss below 25950.

4) Go short if trades near 27150. Closing stop loss above 27200.

5) Buy if closes above 27200 and keep closing stop loss below 27150.

6) Go short if trades near 27650 and keep 50 points closing stop loss above this level.

7) Go long if closing is above 27700 and keep closing stop loss below 27600. Low risk traders can buy July 27800 call if the trade is initiated and keep the same stop loss.

MAJOR SUPPORT LEVELS ON CLOSING BASIS ARE  26225-26000-25620-25290-24730

 MAJOR RESISTANCE LEVELS ON CLOSING BASIS ARE ::27150-27660-28000

GOLD LONDON::

Gold has broken some important support level last week and is technically looking week. It will gain strength only if able to close above 1310 convincingly.

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 closer to 1240 and keep closing stop loss below 1230.

2) Buy if trades closer to 1205 and keep closing stop loss below 1180.

3) Go short if it trades near 1310.  Keep 10 points closing stop loss.

4) Go short if trades near 1336 and keep 10 points trading stop loss.

5) Go short in the zone of 1365-1380 and keep 10 points closing stop loss above this zone.

MAJOR SUPPORT LEVELS ON CLOSING BASIS ARE::  1235-1205-1180

 MAJOR RESISTANCE LEVELS ON CLOSING BASIS ARE :: 1325-1345-1365-1380-1425-1490

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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