Nifty GANN FAN falling Hourly chart of Nifty is shown and currently nifty is still hanging around the falling resistance line(Brown line) as shown in the chart and also trading below the resistance line for the past three days. Strength will be seen only if nifty trades above 4900 which could probably takes nifty towards the 5050 zone and the current shorter term resistance is near 4860. And the long term GANN supports are near 4780(which is not shown in the chart). So any down move below 4780 could result in drastic downtrend. As of now still calls are written at 4900 series. So its advisable to take shorter term long positions only if nifty trades above 4900
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