Bank Nifty Resistance For 1000 Points Rally

It's always critical to analyze a Broader picture of the Instrument especially for Index like Bank Nifty to know what's next can come.

In the close study of the Bank Nifty Index chart, I spotted the significant Resistance Range 22400-22700 as Decisive for the next 1000 points move.

If Index gets close above the mentioned Resistance range on Broader time frames, then probably 1000 or even more then that points rally can be seen.

However, if it failed to do so, then again pullback for 1000 or even more then that points can occur.

At the lower side; 22200-150 range is crucial to watch; below that targets can be 21900/21500/21050 levels.

Else if you are best in technical's; then follow the Hourly chart for locating turn on the downside if weakness prevails in the coming sessions.

Note: Above mention Price projection & other Information is for educational purpose only.

About the author

Divesh Jotwani is a full-time trader in the Indian stock market. He has spent over 20+ years researching and discovering WD Gann's methods and applying them day-in and-out markets.