0Today's move was very volatile. Banknifty opened the Huge gap up, almost 600 points, and made top @ 20638. But could not sustain and fall 1000 points making low @ 19507. It made Double Bottom Pattern on the daily chart, and 19500 is an excellent support zone as Daily MAs are providing support.
The daily chart shows bullish MA crossover on Jun-1 (30 EMA-50 MA, which works well for Banknifty Daily time frame). Now Banknifty again came to MAs (what is called Mean Reversion)
It looks like a wave is completed at today's low that started from the top of 21800 levels. I expect an excellent upmove in the next few days provided support of 19500 remains intact. Weekly opening @ 20457, i.e. @ Banknifty Gann Degree Number zone - 20400 and Double Bottom Pattern, suggests bullish move. Targets are 21100/21800/22500/23300. 
The Weekly MACD gave bullish crossover last week. The weekly chart shows the possibility of Banknifty moving to 22800, where 300-EMA resistance lies and 23700, where 30-EMA lies.
If you observe, in the past 300 EMA played essential support on the Banknifty Weekly chart. Now it may act as strong resistance.
The hourly chart shows a bullish MACD crossover. Also, observe substantial bullish divergence in MACD histogram plotted as a line.
So Banknifty looks bullish on all time frames.
Gann Box:
Weekly Gann Box shows we are at the time cycle week. So a directional move is likely in the coming weeks.
India VIX:
Vix Daily Gann Box showing it facing resistance @ significant angle. So Vix cools off likely.
F & O Data:
The future OI decreased by 9%, the possibility of Longs unwinding. But spot to the next discount increased to 42 from 1, which is a bearish signal.
Trade Plan: Swing Trade
Above 20400 targets are 21100/21800/22500/23300
Below 19700 targets are 19000/18300/17600
I have strong Bullish Bias
