balaji_damo

Banknifty trendlines

NSE:BANKNIFTY   NIFTY BANK
Banknifty             definitely broke long term uptrend. In short term it formed a descending triangle . Breaking 23850 on lower side will be bearish and breaking 24500 will be bullish .
Trade active: It did brokeout of the triangle pattern. Banknifty is still indecisive and is range bound between 24500 and 24000.
Comment: It is consolidating at 24300 range and next move will be interesting to watch out for...
Trade active: BN broke out of consolidation and broke the short term downtrend. 25000 will be the point to watch out for....
Comment: 25150 seems to be strong resistance and it has to be broken for confirmed uptrend...
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