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As a general rule Low risk traders should never use closing basis stop loss.They should rather act every time these important levels are crossed by error margin(read the instructions given above).
Nifty remained in a narrow range last week but Gann levels are always effective. 10610 was Gann resistance level and nifty corrected from this level at least three times and this level still remains to be breached . Since last week was a truncated trading week , so we missed the shorting opportunity near 10700(trade setup) but sgx nifty did go near 10700. Effectiveness of Gann levels are clearly visible. Nifty may remain sideways to downward if 10610 or 10700 levels are not broken convincingly. No problem for the market till it remains above 9950-10000 support zone .10900 to 11180 is the super strong resistance zone .
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 near 10480 , and keep trading stop loss below 10460.
2)Go long if trades near the zone of 10200-220 and keep closing stop loss below 10190.
3) Go long near 9950-10000 and keep stop loss below 9940 on closing basis.
4) Go short near 10610 and keep trading stop loss of 30 points above this.
5) Go short if trades near 10700 and keep 30 points trading closing loss above this.
6)Go short if trades near the zone of 10840-890 and keep 20 points closing stop loss above 10900.
MAJOR SUPPORT LEVELS ON CLOSING BASIS ARE:: 10370-10210-10125-9967- 9830-9570-9450-9290-9180
MAJOR RESISTANCE LEVELS ON CLOSING BASIS ARE :: 10620-10710-10780-10840-10890-11050-11180
It was an extremely dull week for bank nifty as we traded only for 3 days. 25500 and 25950 to act as breakout levels for it.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
1)Buy if trades near 25320 and keep 50 points trading stop loss.
2) Buy if trades near 25050-25100 keep 50 points trading stop loss below 25000.
3)Buy if trades near the zone of 24550-24600 and keep 50 points closing stop loss below 24550.
4)Go short if trades near the zone 25900 and keep 50 points closing stop loss above this.
5)Go short if trades near 26320 and keep 50 points closing stop loss.
6)Go short near 27000 and keep 50 points closing stop loss.
MAJOR SUPPORT LEVELS ON CLOSING BASIS ARE 25500-25320-25000-24500- 24250--24000-23600-23400-23000
MAJOR RESISTANCE LEVELS ON CLOSING BASIS ARE :: 25900-26000-26320-26550-26750-27050
Superb profits were made in Gold last week by going short as per the trade setup given below. Substantial closing below 1210 will open more downside.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 if trades near 1220 and keep stop loss below 1210.
4)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:: 1220- 1180-1153-1120-1045
MAJOR RESISTANCE LEVELS ON CLOSING BASIS ARE :: 1236-1245-1265-1310
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