Bank Nifty Index Fell over 1000 points after the last analysis. The discussed 23400 level worked perfectly.
Every fall or rise always frames the picture for the next move.
But this time still, the entire setup is not exact at present. The present Bank Nifty Index low is critical from a Broader time frame point.
The range of 22710-22825 is a critical area to watch for further clues about the upside.
At the same time, the ‘ANGLE’ resistance line is also coming around 22710-825 range only.
Holding or closing above the mentioned range will add some Positive force for upside; Potential targets will be around 23200/23800 levels.
On the lower side range is quite large and a bit uncertain as well.
If we see Bank Nifty has a significant support area around 21300-500 range.
As I said, the present low is critical from broader time frame analysis.
So, holding or closing below 21980-21900 can increase the chances of more trouble.
I know the range from upper to downside level is almost around 1000 points.
But that’s what charts are suggesting at present. The above price ranges are valid only for the next couple of sessions.- Divesh
Note: Above mention Price projection & other Information is for educational purpose only.