BankNifty looks strongly bearish and 19500 is likely to test soon.
Trend is down from daily time frame to 1 minute. So, I will wait for pullback just to enter a short trade unless it breaks blue trendline.
For the time being, 21000 is the crucial resistance level and 19500 will act as support.
Check out the Blue downward trendline which may act as resistance and Red upward trendline and Black horizontal Line may act as a support level.
However, I strongly believe that 19500 will break and more pain is there.
Trend is down from daily time frame to 1 minute. So, I will wait for pullback just to enter a short trade unless it breaks blue trendline.
For the time being, 21000 is the crucial resistance level and 19500 will act as support.
Check out the Blue downward trendline which may act as resistance and Red upward trendline and Black horizontal Line may act as a support level.
However, I strongly believe that 19500 will break and more pain is there.
Trade active