Will Bank Nifty close above 20230 for further upmove ,EOD Analysis

As discussed in Last analysis Bulls need a close above 19928 to be back in the game for target of 20155, Any close above 20155 will take us towards 20576/20600 levels. Bears below 19700 can push bank nifty towards 19451. Bulls need a close above 19928 for a move towards 20155/20380. Bears will get active only below 19700 for target of 19451. Bank Nifty did not close above 19928 also above the gunner arc,also below 19700 suggesting we are trading in range as we have meeting of central bank of US,EU and Japan on Wednesday and Thursday,suggesting market will wait for uncertainty to go by before taking next move, Keep an eye on our trigger level for next 2 trading sessions. 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.

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