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Bank Nifty EOD Update Feb 22 For Monthly Expiry on Feb 23

Bank Nifty opened 70+ points Gap up at 20937, and reversed immediately as this was zone of Gann Nos 20933/20940 (5/4 digit Gann Nos). This zone provided stiff resistance today and Bank Nifty reversed after making high of 20958.
It seems that some Top is made at 20958 and corrective wave is in progress. Wave A/1 is completed at 20829 and wave B/2 is completed at 20902 that looks a Flat correction! Expect Bank Nifty to come down to complete wave C/3, target would be around Gann No 20710/20700(Confirmation only after break of 20819). Break of 20700 and holding below that make take Bank Nifty to 20500/20480.

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