Bank Nifty shows impulsive move above gann trendline,EOD Analysis

•  As discussed in last analysis  bank nifty was facing difficulty near 15555-15580 was due to gann resistance line, Holding the same Bank Nifty can scale towards 15800/16000 which is the next horizontal line of resistance.  Bank Nifty made high of 15945 where it complete the Butterfly pattern also as discussed in Weekly Analysis Bank . Now Next 100 points range of 15945-16049 is very crucial where we will see lot of supply coming, unable to cross Bank Nifty can see 200-300 point correction. Nifty  Support has increased to 15555-15600, Resistance in range of 16000-16050.  Does it Hold True Let your Winners run and Cut your losses

Continue Reading