Bank Nifty reacts from gann trendline,EOD Analysis

As discussed in Last analysis Bulls needs to close nifty above 17293 which is signal line, else the rally will get sold into once again.  Bank Nifty needs to close above the signal line for a move towards 17466 else heading back towards 16862/16600 levels. Bank Nifty was unable to close above the signal line and gann trendline and effect showed up today closing near the green gann arc,

Posted in: Technical Analysis