Nifty 50 Fresh Gann lines
The green Gann lines (coming from top left to bottom right) acted as resistance and now Nifty is near to last Green Gann line, whereas Purple Gann lines acted as support while nifty was recovering. Clearing LTH 25075 will clear all the Gann lines and then all the Gann lines will act as support, specially the purple Gann line at the top will keep nifty moving up as long as it remains above this Gann line.
On upper side Trendlines in sky blue will act as resistance above LTH.
The point where 2 Gann lines crossing each other is a strong point to act as support or resistance.
Yellow lines are time cycle lines when nifty will show trending moves. Look at the high and low formed considering 2 candles before and after the yellow line and from the low uptrend or high a down trend can be seen. As of now nifty is in uptrend so look for uptrend move rather to short it.
On upper side Trendlines in sky blue will act as resistance above LTH.
The point where 2 Gann lines crossing each other is a strong point to act as support or resistance.
Yellow lines are time cycle lines when nifty will show trending moves. Look at the high and low formed considering 2 candles before and after the yellow line and from the low uptrend or high a down trend can be seen. As of now nifty is in uptrend so look for uptrend move rather to short it.
Nota
The purple Gann line (labelled 1/4) acted as support and gave 70+ points run in the morning itself.Nota
And the last upper Gann line in green acted as resistance and nifty again coming down from there, nifty will keep struggling until it is stuck between these Gann lines.Nota
As predicted it again took support from purple line and then again moved to green line. One could take small small profits moving between these linesNota
Predictions for Tomorrow: an hourly close Above 25080 must take it further towards 25330 to 25400 whereas on downside it has support around 24930 and an hourly close below that can pull it towards 24780.Nota
at 11:15 hourly close was above 25080 and from there it has started up move towards 25330.
Also morning it made a low around 24965, could not break support 24930 mentioned.
Nota
The yellow line worked perfectly to indicate low, it made a low on that yellow line that is time cycle line and then move above purple line which acted well as support line and now moving towards sky blue line for the target of 25330, at a distance of just 60 points.
As the time has elapsed now it might actually move towards 25380-400 where it must find resistance.
Nota
Bingo : target of 25330 achieved yesterday and the new LTH is 25333 from where the index came down :)
Now we might see some profit booking around this area. Hourly close below 25230 can show 100-150 points correction initially.
Where as hourly close above 25300 can take it to 2400 and higher later.
Nota
24700 is the next number where Gann line support is present if today's low is broken.
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