Bank Nifty does 23720 breaking gann angle,EOD Analysis

Monday, July 10 Leave a Comment

As discussed in Last Analysis   Close above todays high 23540  will lead to breakout in  Bank Nifty for next move towards 24000 as shown in below chart, Low made today was 23400 and high made was 23492 so bank nifty formed an inside bar pattern. Bullish above 23540 for a move towards 23630/23720/23900.  Bearish below 23300 for a move towards 23184/23040. As we have been discussing gann analysis gives you an extra edge as we have been discussing till 23300 is held bulls are in control and breakout above 23540 which did are 2 target today 23630/23720 and now bulls will wait for 2 target of 23900-24000. Bearish below 23300 for a move towards 23150/23000. Also the impulsive cycle at work we are up 500 points from the low made of  23254 before start of the cycle. The Confident Trader
Continue Reading

0 comments »

Leave your response!