Nifty Spot (12/5/14 - 16/5/14)

We are entering into a very very volatile week, as election results are going to be announced on 16/5/14. So trade with very cautious approach and with very strict stop-losses.
Well, Nifty started its downward journey on 25/4/14 @ the Gann level of 6870. And again took support on 08/5/14 @ the Gann level of 6638 (suggested level was 6636). And finally on 9/5/14 again stopped @ the Gann level of 6870. This is the beauty of Gann studies.
Take short positions in Nifty @ 6870-6887 levels with stop-loss @ 6902.
Resistance levels are 6870-6880, 6965, 7010, 7198, 7304
Support levels are  6803, 6764, 6699, 6666, 6636, 6584, 6518.
* All levels mentioned are of Nifty Spot

Nifty Spot

NIfty Spot View (06/0514 - 10/05/14)

Nifty is moving on the expected line. This week we may get a bounce back from 6557-6520 level.
Resistance levels for this week are 6736, 6786, 6870-6880
Support levels for this week are 6706, 6636-6611, 6557-6520 (Important support zone).