Bank Nifty unable to close above Gann Angle,EOD Analysis

Tuesday, April 4 Leave a Comment

As discussed in Last Analysis   Now if we close above 21700 we can see next move towards 21797 which is an important resistance zone and above it fast move towards 22000-22100. Bearish below 21500 for a move towards 21400/21350. We were able to capture a 800 pointer from 20870, When price and time meets it creates a fast move thats where gann helps us in keeping ahead of the curve. High made today was 21565 and low made was 21409 so as soon 21500 was broken bulls were on backhand and bears moved till 21409 near our target of 21400. Bulls need to cross above 21700 which is gann angle resistance as shown in below chart. Strong support in range of 21330-21374 and till we are trading below 21500 bears can see move till 21330. Bullish only on close above 21700.
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