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Bank Nifty For Week Starting Feb 20

Bank Nifty opened massive Gap up (674 points) after moving in narrow range for almost 7-8 days! The high was 21042 and it gave up major gains of the day and closed at 20551 registering low of 20449.
Holding 20480/20500 Bank Nifty can move towards 21100/21400. A daily close below 20400 may take bank Nifty to 19700/19500 levels. 

Inside Pitchfork:

IP is showing that holding 20500 Bank Nifty can move to 21000. Below 20500 it can move down to 19700.

Gann Time & Price Square:

As per this analysis, Feb 17 and price 21020-80 is a price-time square possibility(Bank Nifty achieved high of 21042 on Feb 17 and reversed sharply). Hence possibility of 21042 being a Top is  quite high. It may be short term top till start of new solar cycle on Mar 22 or could be Mid term top that may be protected for next few months.
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