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Bank Nifty Can Show More Upside From Here

Last Updated: October 20, 2020 By Divesh

In the last Nifty Bank analysis, first bears did the low around 23950 levels. And after that bulls are doing well above 23900-24100 range.

Now the Nifty Bank bulls are doing well above crucial market structure.

So the chances are high that Bank Nifty can show 700-1200 points upside move in next few trading sessions.

But it’s always better to trade level to level, rather than making assumptions.

Nifty bank bulls

From Gann analysis perspective, Nifty Bank bulls should continue to hold the 23800-900 range. And for the further hefty rise, it would be great if this week close should be above it. 

Any dip near the 23800-900 level can use as a buying opportunity with limited stop-loss.

But from the present price 23800-900 is still quite far. 

So in such case one can look for buying opportunity if Prices sustain and hold above 24350-400 range.

The potential target on the upside will be around 24700/24950/25300 levels. 

I hope it will help. I’ve done the groundwork. Now you have to see how you can take advantage.-Divesh

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


Tags

Bank Nifty Gann Analysis, Bank Nifty Support Range


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