Last week I clearly indicated that any close below 11970 may trigger big selloff . Nifty did go below 11970 briefly but could not close below this. Now closely watch 2 Gann resistance zones @.......
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Lat week I gave two major Gann resistance levels 12160-12170 and 12215 to 12250. Nifty corrected from both the zones. This is the accuracy of Gann levels.
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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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An advance warning was clearly issued regarding the risk of a big downside in Nifty . Refer the weekly newsletter(20-24 Jan'20).
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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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