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Bank Nifty for Week Starting Mar 6

Gann Time Analysis

This week is important week as per Gann Time Analysis. This week is 26th from Top of 20576 made in Sep 2016. Also Last week completed 52 weeks from major bottom of 13407 made in Feb 2016. As per Gann Time Analysis these are important weeks for making Top/Bottom/Reversal. Hence, a Major mid term Top/Bottom can be expected this week that should be protected for few months. The reversal of Sep 2016 was 27 weeks from low of Feb 2016.
Daily chart shows Bank Nifty is moving in the range of 20400-21100 for last 2-3 weeks. In last trading session it bounced back from support of 20400 and hence it may again try to reach 20900/21000 level in coming week. A decisive break of 21000 and holding it for few days may propel Bank Nifty to further high 21800/22500. A break of 20400 support may take it down to 20000/19700.
On Monday break of 20567, Bank Nifty target will be 20710/20819. On downside break of 20471 Bank Nifty can reach to 20364/20250.

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