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. And still the long term supports are resting near 4800 levels and will increase with respect to time
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Rajandran is a trading strategy designer and founder of Marketcalls, a hugely popular trading site since 2007 and one of the most intelligent blog in the world to share knowledge on Technical Analysis, Trading systems & Trading strategies.