Friday, March 18

Bank Nifty unable to close above gann trendline,EOD Analysis

  • We expected a move of 400-500 points above 15452, Bank Nifty did 300 points move High made was 15704, Bank Nifty opened above the gann resistance line but was unable to sustain above it, but closed above the gann arc as shown below suggesting bulls are still in control. Close above 15555 is required for next leg of upmove and close below 15136 is required for serious correction. After a big rally we saw in 1 week of march bank nifty is just doing time correction by trading in a range. Support has increased to 15250-15300, Resistance in range of 15660-15700.  How to fight with Trading Emotions
Bank Nifty Gann Trendline resistance

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