We had a very interesting day today on 3rd August 2011. After a long time, I got some ‘real’ time to analyse NIFTY.

NIFTY has been moving down since Nov 2010 after making a Double Top at the All Time HIGH of 6349 (previous Top was 6336 on 8th Jan 2008). In my analysis, I use GANN Angles and they work so beautifully.

Look at the first chart below showing a GANN angle from All Time Low of 860.3 on 21 Sep 2001. It has been acting as a support line to NIFTY since Nov 2009.

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