On Friday, Bank Nifty formed an indecisive “Spinning Top” candlestick which suggests that the price can go either way this week. We may see Bank Nifty reversing after taking support from 33900-34000 levels. On the extreme side, it may go down to 32150 levels, though it looks a bit unlikely as of now.
If it reverses from 34000 levels, it would be a step towards a confirmation that Bank Nifty is forming an Inverted Head Shoulders pattern
If it reverses from 34000 levels, it would be a step towards a confirmation that Bank Nifty is forming an Inverted Head Shoulders pattern