Bank Nifty EOD Analysis for Aug RBI Policy

As discussed in Last Analysis   Fresh longs should be taken above 25000 for a move towards 25200-25284. Bearish below 24624 for a move towards 24480-24300.  High made today was 25168 so bank nifty reached near our target of 25200 but did not achieve it,hopefully will be done tomorrow. Close above 25200 will push bank nifty towards 25344/25500. As we have new time cycle starting today so today's low of 24828 should be held till 07 Aug for Bulls to have upper hand and move towards 25200/25344/25560. Bearish below 25000 for a move towards 24840/24440. High made today was 25179, so bulls continue to rally holding 25000. Any close above 25200 can see fast rally towards 25344/25500. Till Time cycle low of 24828 is holding bulls have upper hand and rally towards 25676 which is gann angle resistance. Bearish below 25000 for a move towards 24840/24440. RBI Policy outcome will come around 2 PM so trade cautiously.

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