Last week it was clearly mentioned that trend is up and it gave us a buy trade on Monday itself as per the trade setup. It rallied handsomely the whole week . Trend remains buy on dips. 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 long if nifty trades in the zone of 11165-11185 and keep stop loss below 10140 on closing basis. High risk traders will keep stop loss below 11100 on closing basis.
2)Go long if nifty trades near 10930. SL on closing below 10900.
3) Go short if nifty trades near 11295 and keep closing stop loss above 11310.
4) Go short if trades closer to 11600 and keep closing stop loss above 11650.
MAJOR SUPPORT LEVELS ON CLOSING BASIS ARE:: 11165-11100-10905 -10550
MAJOR RESISTANCE LEVELS ON CLOSING BASIS ARE :: 11300-11415-11630
Bank nifty trend remains up and buy on dips is the best strategy for now.Last week it gave bumper profit to all those who went long as per the trade setup.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 27455 and keep closing stop loss below 27400.
2) Buy if closes above 27200 and keep closing stop loss below 27150.
3)Go short if trades closer to 27650 and keep closing SL above 27700.
4) Go long if closing is above 27700 and keep closing stop loss below 27600.
MAJOR SUPPORT LEVELS ON CLOSING BASIS ARE 27450-27200=26900-26600
MAJOR RESISTANCE LEVELS ON CLOSING BASIS ARE :: 27660-28080-28750
No change in strategy or levels.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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