Bank Nifty trading near gann arc, EOD Analysis

Wednesday, October 12 Leave a Comment

 As discussed in Last analysis  Bear will get upperhand on close below 19451 for target of 19340/19020 and bulls above 19732.  Bank Nifty bears finally broke 19451 and did the target of 19340, now trading below 19340 can see fast move towards 19185/19020. Bank Nifty bears were unable to close below 19340 suggesting bears are losing momentum but still have upper hand till close below 19520. Any close above 19520 will take ban nifty back to 19750-800 range. Bank Nifty made high of 19501 and low was 19351 so bulls were unable to break 19520 and bears were unable to break 19340 suggesting choppy trading going on before the next trending move. Bulls close above 19520 can see fast move towards 19732/19900. Bears break below 19340 can see fast move towards 19150/19020. 

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