Bank Nifty corrects from Gann Resistance line,EOD Analysis

As discussed in Last analysis  Bank Nifty opened above 19928 made a high of 20264 but closed below 20155, today high is very important and unable to close above it tomorrow can see correction back till 19800-19700 zone. Bullish only on close above 20155 for target of 20500. As seen in below gann chart, Bank Nifty opened at the gann resistance line also opened below 20155 suggesting correction on cards as we discussed, low made 19861 and by monday we should get our target of 19800/19700. Bank Nifty is trading in a range 20250-19700 doing time correction before the next trending move. Bulls will get active on close above 20155 and bears on close below 19700.  With self-confidence & Perseverance, Never Give Up

Continue Reading