nifty hourly chart gann view

nifty has created a 5-0 pattern in price action, 17530 becoming a buying zone with stoploss 17480for chart mentioned resistance targets, below 17500 a bearish view might come where 17350 will be a major support. 17890 becoming the median line of 2008 market top exactly from there market has plunged, quite possible a more downtrend we can see if 17500 breaks, but as it is a close above 17500 for the first time ever, next week nifty must be safe above 17500. as for a long time there were no sharp downward movement as given today, gann fan has been put the top to analyze further the market behaviour, as long as the upper 1/8 line is crossed over, nifty to be considered in an alert mode.