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Bank Nifty EOD Update Mar 22

Bank Nifty opened 200 points Gap down and further corrected making low of 20757. So start of new major solar cycle gave impulsive move.
Daily chart shows Bank Nifty closed just below lower line of channel and further correction to 20400 level is possible if it does not enter channel again. Also it is just below middle BB line, again a negative signal. RSI is near 54 and it may touch 50 before any up move or if it cross 50 level then further downside is on the card!

For last few days I  am mentioning that day close above 21100(3 digit Gann No) is bullish for Bank Nifty and day close below 21100 may push Bank Nifty to lower levels. Yesterday it closed below 21100 and today fell more than 250 points. So Gann levels play very important role as support/resistance.

Today it opened Gap down at 20815 near Gann no of 20819(5 digit Gann No).

Tomorrow above 20805, target is 20900/21000. Below 20757, target is 20660/20565
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