Friday, October 23

Bank Nifty close shy of 17950,EOD Analysis

  • As discussed in last analysis Bank Nifty took support @ the rising trendline as shown in below chart and closed above the demand area 17652. Friday we can see a breakout/breakdown move so trade cautiously.  Above 17850 Bank nifty can move towards 17950/ 18050/18144 and below 17650 back to 17434/17368 .  Bank Nifty open with gap made low of 17852 rallied till 17980 and closed at 17934. As Bank nifty is closing above gann line of resistance so it heading to gann swing point at 18044 and above that 18144, Support at 17850 below that  can move to 17652. How to develop yourself as Profitable trader
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