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Last week I clearly indicated that any closing below 11000 will definitely indicate a loss of strength and the major trend will become sideways from bullish. So strength suffered last week and now both long and short trades can be taken at every Gann levels. Aim for short term profit only with strict stop loss.To show good strength nifty must trade and remain over 11205 on closing basis. Any closing below 10750 will indicate more weakness.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 near 10850 and add more till 10780 and keep closing below 10760.
2) Go short near the zone 11140-11200 and keep closing stop loss of 20 points above this. If stop loss is hit reverse your trade and go long with SL below 11160.
3) Go short if trades near 11300 and keep closing stop loss above 11350.
6)Go short if trades near the zone of 11450 to 11520 and keep 30 points closing stop loss above 11520.
MAJOR SUPPORT LEVELS ON CLOSING BASIS ARE:: 10850 -10780-10550-10370-9950
MAJOR RESISTANCE LEVELS ON CLOSING BASIS ARE :: 11150-11205-11315-11450-11525-11630-11760-11845-11955-12100
Those who have gone long near 25000 with closing stop loss below 24950 as per the trade setup given last week, must hold the position with same stop loss..Follow the trade setups given below and additionally monitor the role reversal levels.
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 long if trades in the zone of 25000. Keep 50 points closing stop loss below 25000.
2)Buy if trades near 24460 and keep 50 points closing stop loss.
3) Buy if trades near 24000 and keep 50 points closing stop loss.
4)Go short if trades closer to 25550 and keep 50 closing stop loss.
5)Go short if trades near the zone 25900- 26000 and keep closing stop loss above 26170.
6)Go short if trades near 26550 and keep 50 points closing stop loss.
MAJOR SUPPORT LEVELS ON CLOSING BASIS ARE -25000-24680--24460-24000
MAJOR RESISTANCE LEVELS ON CLOSING BASIS ARE ::25550-25650-26000-26170-26550-26750-27150-27300-27765-28370-30130
No change in Gold levels as it is still playing in the range of Gann levels. 1215 and 1180.Short term trend is up but major trend is still down, so all long trades must be followed with strict stop loss.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 maximizing profit is an ART which is taught to all Gann students at ART OF TRADING.
1) Go short if trades near 1230-35 zone and keep trading stop loss above 1245.
2) Go short if it trades near 1260. Keep 10 points closing stop loss above this level.
3) Go long near 1185 keep 10 points trading stop loss.
4) Go long near 1155 and keep 10 points closing stop loss
5)Go long near 1125 and keep 15 points closing stop loss.
MAJOR SUPPORT LEVELS ON CLOSING BASIS ARE:: 1180-1153-1120-1045
MAJOR RESISTANCE LEVELS ON CLOSING BASIS ARE :: 1215-1228-1236-1265-1310
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