Chart shows that Nifty hourly mode @ GANN Supports zone 5417-5410. Breakdown below the support zone will target the next support zone 5200

Nifty GANN Resistance near at 5180.However NMA had already delivered the sell signal in nifty. Also it had been observed that still 5200PE has the huge Open Interest among the strike prices. So 5180 could be the next hope for the uptrend to sustain. Failure could be a bad turnaround for the bulls as the next gann support level next to 5180 lies
near 4500 zone

On March 2 We had discussed about the two possibilities of Long term GANN chart. In that post i had observed 4800 as the long term support in first kind of long term GANN Chart and 5050 as a resistance in second kind of long term GANN Chart. As of now the market is confortably trading above 5100 for the past three days. So I prefer the Second Possibilites of Long term GANN Chart

“There are two kinds of investors, be they large or small: those who don’t know where the market is headed, and those who don’t know that they don’t know. Then again, there is a third type of investor – the investment professional, who indeed knows that he or she doesn’t know, but whose livelihood depends upon appearing to know.”

Shorter term GANN Shows resistance near 5040-5050 region. And when looking into the long term GANN Charts I’ve had drawn the charts with two possibilities. The first chart is by drawing from the lows of march 2009 to the major supports which shows that the long term supports are near 4800. And the second long term charts are drawn between march 2009 lows to dec 2009

Chart shown is the Shorter term GANN Chart which shows that next shorter term GANN lines are near 5020-5040 levels. Fibonnaci retracment levels 38.2%, 50%, 61.2% are shown in the chart(Brown Lines). Just check out how market respect those zones.

Nifty GANN FAN falling Hourly chart of Nifty is shown and currently nifty is still hanging around the falling resistance line(Brown line) as shown in the chart and also trading below

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