WHILE STUDYING ABCD PATTERN. BC HAD CLOSED JUST BELOW 1.13% RETRACEMENT OF AB(FALSE BREAKOUT WHICH COULD NOT TAKEBANK NIFTY TO HIGHER LEVEL) AFTER THAT BANK NIFTY HAS CORRECTED MUCH. ON FRIDAY NIFTY HAD GONE JUST BELOW 88.6% RETRACEMENT OF AB BUT BOUNCED BACK. PERFECTLY ABCD PATTERN HAS FORMED. HENCE WE COULD SEE A BOUNCE FROM THIS LEVEL FRIDAY'S LOW IS SACROSANCT. WITH USA MARKET CLOSING NEGATIVE IF BANK NIFTY DOES NOT CLOSE BELOW THIS CRITICAL POINT ONE CAN GO LONG. HAPPY TRADING
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call could not be initiated as bank nifty had a gap down opening.