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Ami8singh

Head and Shoulder Pattern in BankNifty

Short
Nifty Bank Index (NSE:BANKNIFTY)  
Ami8singh Updated   
NSE:BANKNIFTY   Nifty Bank Index
Trend Analysis Chart Patterns BANKNIFTY bankniftytrend bankniftyanalysis head_and_shoulder
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trendanalysis chartpattern banknifty bankniftytrend bankniftyanalysis head_and_shoulder
BANKNIFTY Seems to be bullish above 39327, as this level is a Virgin POC. Till then sell on rise is advised. I've plotted these Red Horizontal Rays according to the Session-wise volume profile POCs plotted on BANKNIFTY Futures. POC's work as strong support and resistance as they are the level of smart money.

If BANKNIFTY breaks the level of 38409 then we can see BANKNIFTY retesting 37736 and 37168 levels.

Hello Trader. Above is purely my opinion. It doesn't mean that you need to trade accordingly. Please note that I'm not Sebi registered advisor or technical analyst. Trade on your own conviction and please consult your advisor before investing.
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