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Bank Nifty EOD Update Feb 27

As expected Bank Nifty corrected today(I mentioned about possible correction in yesterday's post) to 20584. Daily/Hourly RSI is reached a level from where it took support 2 times. So possibility of completion of correction at 20584 is there. In case, this RSI level is broken then further downfall to 20480/20400 is on the cards.
 
Bank Nifty 5-min chart shows Index took support at Gann No 20591. 5-min RSI is showing divergence and triangle/ED like pattern is under formation. This suggests possibility of correction completion at 20584 as long as 20591/20584 is hold. If Bank Nifty breaks these levels then support is at 20480/20400 that should be hold for Bank Nifty to remain in ongoing Bullish Trend started from 17600.
For upside move confirmation wait for Bank Nifty to cross 20710/20819.
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