NIFTY needs to consolidate on current levels for a healthy upmove. Yesterday after testing the External Harmonic Wave Price point of 11200 we saw minor profit booking from higher levels. But the road ahead wont be very smooth.
First of all if we analyse the Trend,which is very positive. The long term support for this rally is placed at 10750 on spot which also could be considered as Line of Control between strenth and weekness. Until 10750 holds this Rally might extend till 11280 and 11550 in coming days. With some usual obstacles
Now for short term traders major support is at 11035 on spot. Must get out of trading longs below this level if a short term trader
According to time the daily close above or below yesterdays high and low would set the Trend rolling till next Gann Date
Opinion Published in this Article is based on my Knowledge and Understanding of Gann Theory. I may or May not have any Trading Positions on suggested Scripts. These Views shall be considered only for Educational Purposes. Any Trading Positions should only be taken after consulting your advisor or obtaining the Gann Trading Course designed by me. I only would post the price levels no charts would be shared here to keep the analysis to the point without writing Lengthy posts
gann,insides 