As indicated last week , Gann Pressure date did apply lot of pressure in nifty and it could not trade or sustain above previous week's high.Look at the chart above and see the accuracy of Gann levels. Nifty found support twice, on tuesday and thursday last week near 10905 Gann support level. Both time it provided a profit of more than 100 points. Trend will remain buy on dips till nifty closes below 10900. Follow the trade setup as given below.
TRADE SETUP :
* ALL THE TRADE SETUPS GIVEN BELOW ARE VALID FOR THE WEEK ONLY.
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 short if nifty trades closer to 11200 and keep stop loss above 11220 on closing basis.
2) Go long if nifty trades near 10905 and keep stop loss below 10870 on closing basis.
3)Go long if nifty trades above 11080. SL on closing below 11050.
4) Buy if trades closer to 10820 and keep a closing stop loss below 10770.
5) Go short if nifty trades near 11295 and keep closing stop loss above 11310.
MAJOR SUPPORT LEVELS ON CLOSING BASIS ARE:: 10905 -10815-10700-10550
MAJOR RESISTANCE LEVELS ON CLOSING BASIS ARE :: 11200-11300-11415-11630
Almost 500 points profit in long trade taken near 26600 on monday and more than 400 points profit in short trade taken on wednesday near 27160. This is the power of Gann system and accuracy of Gann levels. However one sl was also hit on monday but Gann traders always know the potential of profit in comparison to the small stop loss.Follow the trade set up as given below with strict discipline.
TRADE SETUP :
* ALL THE TRADE SETUPS GIVEN BELOW ARE VALID FOR THE WEEK ONLY.
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 26600 and keep closing stop loss below 26550.
2) Buy if closes above 27200 and keep closing stop loss below 27150.
3) Go short if trades near 27160 and keep 50 points closing stop loss above this level.
4)Go short if trades closer to 27650 and keep closing SL above 27700.
5) Go long if closing is above 27700 and keep closing stop loss below 27600.
MAJOR SUPPORT LEVELS ON CLOSING BASIS ARE 26600-26425-26000
MAJOR RESISTANCE LEVELS ON CLOSING BASIS ARE ::27170-27660-28000
After breaking the crucial Gann support zone it went very close to the next support near 1205. Gold made a low of 1211 and a good 20 points bounce from there. Trend remains week and sell on rallies are better trade now.
TRADE SETUP :
* ALL THE TRADE SETUPS GIVEN BELOW ARE VALID FOR THE WEEK ONLY.
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) Go short if trades near 1245-1250 zone and keep trading stop loss above 1252.
2) Buy if trades closer to 1180 and keep closing stop loss below 1170.
3) Buy if trades closer to 1205 and keep trading stop loss below 1195.
4) Go short if it trades near 1266. Keep 10 points closing stop loss above this level.
5) Go short if trades near 1288 and keep 10 points closing stop loss above this level.
MAJOR SUPPORT LEVELS ON CLOSING BASIS ARE:: 1205-1180-1120-1045
MAJOR RESISTANCE LEVELS ON CLOSING BASIS ARE :: 1245-1266-1288-1315
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