Posting Gann Charts after a very long time.Chart shown that Gann supports near 5640-5660 zone
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 of situation which could be confirmed after crossing the 5410-5435 barrier. Gann lower end supports next 5410 are available near 5210 zone.
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 increasing mode the current supports zone has increased to 5380 zone. Any breakdown below 5380 will target the next GANN Support zone 5200.
Nifty hourly trading shows the continuation of the buy mode with hourly supports near 5456. Also the rising trin charts shows that recently there are more declining stocks than the advancing stocks in terms of volumes which indicates the possibilities of bearishness in shorter term. Any failure to hold 5456 could target nifty towards the next available gann support zones 5370 and 5180
One of the regular reader(Savani Keshav) of marketcalls requested for posting the long term GANN charts of Nifty. As of Now the long term GANN Supports are still in the increasing support near to the region 5025-5032 zone.Nifty Daily Charts(2,20) holds the buy signal with a trailing stop loss of 5192
Long term GANN Fan Charts of Nifty shows that it is trading currently between the long term resistance line 5400 and the long term support zone 5200 pts. Still there could be a possibility of oscillation before the breakout or breakdown occurs. Remember currently the bias is on negative side as nifty is trading below the cloud supports as shown below with the cloud resistance of 5293
Nifty once again in the way of reaching near the long term GANN Resistance point 5420 region. Chart shown above is Nifty Daily GANN Chart. The intermediate GANN Supports coming around 5240 weakness will prevail only on closing below 5240 on EOD basis. Possibly market could move in the range bound fashion between 5240-5400 till this expiry season