An Ascending Channel within a Base Channel - Bank Nifty
An Ascending Channel within a Base Channel - Bank Nifty
In the previous week Bank Nifty recorded a high at 22479 and formed a swing high with a bearish outside bar. The Key level is at 20926 and the critical level and 19507. On the break of the recent swing high price can inch towards the channel line. Price action near the support zone at 20240 will be crucial for the upcoming week.
Disclaimer
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
In the previous week Bank Nifty recorded a high at 22479 and formed a swing high with a bearish outside bar. The Key level is at 20926 and the critical level and 19507. On the break of the recent swing high price can inch towards the channel line. Price action near the support zone at 20240 will be crucial for the upcoming week.
Disclaimer
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.