11610 TO 11630 was strong Gann support zone for Nifty ,where long trades were initiated. It was expected to bounce from this level
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Last week I clearly indicated the Gann resistance zone and nifty corrected exactly from these levels. Now watch closely the major support area in the zone of 11...........Any breach of this zone on closing basis will indicate 1st signal of surrender by bulls
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NIFTY faces good resistance ahead.Only disciplined traders can take small risk of going short around these levels.
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LAST WEEK BULLS WERE ABLE TO SAVE STRONG GANN SUPPORT LEVELS AND NIFTY BOUNCED SMARTLY TO MAKE A NEW LIFE HIGH.
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THERE IS NO CHANGE IN NIFTY SUPPORT OR RESISTANCE LEVELS. 12100 AND 11800 GANN SUPPORT MUST BE ...........
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LAST WEEKS STOCKS HAVE BEEN REPEATED THIS WEEK AS TECHNICAL LEVELS AND VIEW REMAINS SAME AND VALID FOR THIS WEEK ALSO.
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Last week I very clearly wrote that bulls have no problem till Nifty closes below 11800. So we saw a good rally from the Gann support level ...
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If you remember , last week I clearly indicated the importance of 11790. Nifty went very close to this support level but did not breach it. So we witnessed a superb rally
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Pressure week effect is still being felt in Nifty. Strength will be lost once it closes below 11.........
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Last week Nifty made new life high as anticipated but could not sustain at higher levels being the Pressure week. To maintain good strength it must not trade and close below........
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