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BankNifty Update for Jun-23, 2020

Banknifty achieved our second swing target of 21800 (Post-dated Jun-16 - Update for Jun-17). It made top @ 22078 and reversed back sharply to 21600 levels closing @ 21708.

The daily chart still shows bullish momentum. Today is an important date (Jun-20 was Major Annual Gann Cycle Date-Solstice day). So today's high would be important to watch for further upmove.
The Hourly chart shows the loss of bullish momentum as MACD histogram (plotted as a line) shows bearish divergence. The possibility of correction/consolidation very likely. 

Banknifty may come down to 21100 where 30-EMA (Hourly) may provide support.

Gann Box:

Gann Box on Daily and Weekly time frame shows Banknifty facing resistance @22000 levels.

Trade Plan:

Intraday:
Above 21800 targets are 21950/22000/22150
Below 21550 targets are 21450/21250/21100
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