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 shown below.
Chart shown is an 1 Year IEOD 5 min chart of Nifty with GANN FAN indicator applied between the march 2009 low and Jan 2010 High
Zomming the GANN Charts to find the support
from the last zoomed charts of Nifty iam able to find that market is busy in holding that trend line. Iam just keeping my stop loss for all sort of long. Any day market closes below 5100 I need to reverse the postion to shorts as the long term suports are pointing towards 4260.