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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).
Both 10610 and 10700 proved its effectiveness last week. We witnessed some corrections every time it reached near these resistance levels.Nifty remained in a narrow range last week but Gann levels are always effective. Now convincing close and trade above 10710 will indicate STRENGTH. Trend will become buy on dips till 10440 is not broken on closing basis.10900 and 11180 is the super strong Gann resistance levels .
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 10550 , and keep trading stop loss below 10520.
2)Go long if trades near the zone of 10450 and keep closing stop loss below 10420.
3) Go long if trades and stays above 10710 and keep trading stop loss below 10680 .You can increase your position if closes above 10790.
4) Go short if trades near 10880 and keep 30 points closing stop loss above this.
5)Go short near 11020 and keep closing stop loss above 11050.
6)Go short if trades near the zone of 11150-1800 and keep closing stop loss above 11220.
MAJOR SUPPORT LEVELS ON CLOSING BASIS ARE:: 10530-10440- 10370-10210-10125-9967
MAJOR RESISTANCE LEVELS ON CLOSING BASIS ARE :: 10710-10780-10890-11050-11180
It has given a positive break out above 25950 and it stopped exactly near Gann resistance 26320. From this level it corrected 200 points intraday on Friday. A short trade as per the set up given below had given immediate profit on last Friday. Closing above 26350 will indicate more strength.
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 25730 and keep 50 points trading stop loss.
2) Buy if trades near 25400 keep 50 points closing stop loss below 25400.
3)Buy if trades near 25950 and keep 50 points closing stop loss.
4)Go short if trades near 26320 and keep 50 points closing stop loss.
5)Go short near 27020 and keep 50 points closing stop loss.
6) Go short near 27550 and keep 50 points closing stop loss.
MAJOR SUPPORT LEVELS ON CLOSING BASIS ARE 25730-25400-25000-24500- 24250--24000
MAJOR RESISTANCE LEVELS ON CLOSING BASIS ARE :: 26320-26550-26750-27050- 27550
Gold will remain weak till it does not close above 1245. 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 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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