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Bank Nifty EOD Update

Bank Nifty is steadily moving up before RBI's monetary decision on tomorrow. Opened mild Gap up and corrected making low at 21499. Later moved higher making all time high at 21699 and closing all time closing high at 21652.
Bank Nifty may give some reaction if any negatives come from RBI's decision/commentary. Otherwise market already priced in no rate change. Overall Bank Nifty is poised for sharp up move towards 21800/22000 before closing of this week as it closed above 21565 as per our weekly levels.

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Bank Nifty EOD Update Mar 14

As expected Bank Nifty opened major Gap Up of 462 points at 20189 and made high of 21274 and then retraced to make day low of 21059 and closed at 21102. Daily chart shows, Bank Nifty broke the upper line of blue channel within which it was moving for last 3 weeks. Bank Nifty closed above 21100 that is 3 digit Gann no, hence bullish for Bank Nifty. As long as it close above 21100 on daily closing basis view is bullish on Bank Nifty for target of 21800/22500 in coming days. Angles on Hourly chart shows Bank Nifty reversed from 26.5 degree angle and find support at 18.75 degree and bounced back. Tomorrow Bank Nifty may move in narrow range and protect today's Top/Bottom awaiting Fed rate decision and may react in Thursday morning to news!