Next Resistance near 5020-5040?

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

Related Readings and Observations

  • Nifty hourly trading for 20 August 2010 Hourly charts of nifty remains the buy signal with cloud supports near 5427 zone.Daily charts of nifty remains the buy signal since 10th June 2010. i.e the recent buy signal right from […]
  • Nifty maintains the hourly sell signal for 19 August 2010 Nifty maintains the hourly sell signal with resistance place at 5435 zone. And also spot nifty is holding the GANN Support zone 5410-5415 zone. As of now nifty nears the make or break kind […]
  • Nifty hourly trading for 17 August 2010 Chart shows that Nifty hourly mode @ GANN Supports zone 5417-5410. Breakdown below the support zone will target the next support zone 5200
  • Nifty hourly trading for 13 Aug 2010 Nifty hourly resistance still near 5466 zone and continuing the sell mode. Also in yesterdays action it nears the first GANN Support zone 5375-5370 region. As the GANN Supports are in […]

Comments

  1. prabha says

    Sir,
    How to check whether the gann fan drawn by us is correct or not…is it necessary that the 45 degree should be the diagonal of the gann squarE.
    Thank you in advance.
    prabha

  2. says

    Prabha,
    I draw the GANN Charts either connecting the major high’s and low’s(Both Shorter term and long term) and with respect to time iam once again shifting the same lines to lows to major Support or from High’s to major resistance. By doing so most of the time iam able to find interesting supports/Resistance…. Just have a try it would be fun

Leave a Reply

Your email address will not be published. Required fields are marked *