As we seen in bigger time frame, we can see BANKNIFTY making higher highs but we can see RSI ( Relative strength Index ) which is also known as momentum indicator which shows that momentum is slowing down though the spot chart showing strength!
We can also see that BANKNIFTY closed around important psychological level which is 36500 which is the neckline of W pattern making this level even more important which brings to the conclusion that if BANKNIFTY is able to sustain above 36500 then we can go long on the other hand we can go short if BANKNIFTY sustains below 36500 ans it could also show trend REVERSAL
We can also see that BANKNIFTY closed around important psychological level which is 36500 which is the neckline of W pattern making this level even more important which brings to the conclusion that if BANKNIFTY is able to sustain above 36500 then we can go long on the other hand we can go short if BANKNIFTY sustains below 36500 ans it could also show trend REVERSAL