Bank Nifty unable to close above gann line,EOD Analysis for 30 Sep

• As discussed in last analysis Bank Nifty reacted from gann line of resistance and is heading towards the first support of 17000 and ultimate target of green arc as shown in below chart around 16700/16650. Low made today 16650 exactly at green arc as shown in below chart before RBI policy, and saw the huge bounce after RBI Cuts Repo Rate by 50 bps-- Full Text . After the initial rise Bank Nifty took resistance at pyrapoint 90 degree line  as shown in 2 chart and closed below the gann trendline. We need close above gann trendline for bullish mode else we can again correct back to 16600/16300 odd levels.

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