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 high’s which indicates long term resistance near 5050(check on the below charts- just kissing the resistance line increases w.r.t time) and the long term GANN Supports for the second possibilites lies near 4260 zone. But both the charts indicate a target zone of 4260-4300 if nifty breaks 4800 on EOD basis.
Long Term GANN1(1st Possibilites) Chart shows possibilites of new high’s above 5050 on EOD basis and Supports at 4800
Long Term GANN(2nd Possibilites) Chart showing Support near 4260 and resistance near 5050