Bank Nifty does 20500,another failed attempt at gann arc,EOD Analysis

Thursday, March 2 Leave a Comment

As discussed in Last Analysis Bank Nifty did not did our target of 20500 and whipsaw the trade as we went up and close above 20750 thus stoping out trades who were short, As we also failed to close above 20800 so both bulls and bears are in neutral zone. Close above 20850 we need to enter the green arc Bulls can again scale back to 20200/202500. Bearish below 20750 for a move towards 20500/20300. Nifty opened gap up above 20850 and as soon as 20750 was broken moved back towards the lower end of range at 20500 low made was 20517, near the gann support line as shown below, As we have weekly closing tomorrow bulls would try to protect 20500 and bears will need a close below 20450 for further down move, If 20500 is held we can see again upmove towards 20750/20800.  Learn from Your Trading Mistakes

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