kaladharand

Banknity looking Bearish

Short
NSE:BANKNIFTY   NIFTY BANK
Bank nifty is looking bearish . As it has made series of new Higher and Higher low. But in the month of august it cannot make new higher and and formed a lower high around 22400 level and reversed, which is a good sign of reversal. It is also forming a head and shoulder pattern. 21000 level is being a very strong support where banknifty has bounced back three times. We can have the 1st target in the neck line. If that is broken the the immediate support is @ 20000 levels. But before reaching 20000 level it will retrace and then can reach.

Comments