This is the beauty of Gann system. As told very well in advance that in this week we may see wild movements, and from Monday Nifty was not able to cross the first resistance level of 7234-40 (See Here) and we see a huge selloff from the highs and also Nifty found support and got closed near the Gann level of 7107. A gain of more than 110+ points with a stop-loss of only 10 points. The Risk-Reward ratio is 1:11
It won't be an easy job for Nifty to break 6870-6800 zone but if Nifty gives a close below 6790 then we may witness much lower levels in Nifty. The doors for more downside will get open and we may see 6650, 6360 levels.
Major resistance levels are 7234-40, 7347-67, 7452-63, 7520, 7602-18, 7715
Major support levels are 7107, 7047, 6988, 6930, 6875, 6835-25.
It won't be an easy job for Nifty to break 6870-6800 zone but if Nifty gives a close below 6790 then we may witness much lower levels in Nifty. The doors for more downside will get open and we may see 6650, 6360 levels.
Major resistance levels are 7234-40, 7347-67, 7452-63, 7520, 7602-18, 7715
Major support levels are 7107, 7047, 6988, 6930, 6875, 6835-25.
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