IlyasShaikh

Short term - BankNifty under hammer

NSE:BANKNIFTY   NIFTY BANK
33 1 4
Today Nifty             Index witnessed a huge profit booking. The one sector which came under pressure was BankNifty             . BankNifty             is consolidating at this level. The price pattern making Triple Tops, H&S and inevitably Flag pattern . All are hinting towards short term correction.

If price remains and take support at this level @18625 then it is ready to inch towards 18950 atleast 350 points move and if price penetrate the support level below 18625 then it can move towards 18336.

Regards,
ilyas

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