As expected Bank Nifty opened major Gap Up of 462 points at 20189 and made high of 21274 and then retraced to make day low of 21059 and closed at 21102.
Daily chart shows, Bank Nifty broke the upper line of blue channel within which it was moving for last 3 weeks. Bank Nifty closed above 21100 that is 3 digit Gann no, hence bullish for Bank Nifty. As long as it close above 21100 on daily closing basis view is bullish on Bank Nifty for target of 21800/22500 in coming days.
Angles on Hourly chart shows Bank Nifty reversed from 26.5 degree angle and find support at 18.75 degree and bounced back.
Tomorrow Bank Nifty may move in narrow range and protect today's Top/Bottom awaiting Fed rate decision and may react in Thursday morning to news!
Comments
Post a Comment