Nifty Bank Long Term View
Updated
This study of mine is based on Yearly Pivot Point Standard.
We can see clearly that from 2017 to 2019 the yearly pivots were missed, price didnt touch the pivots and went up. Then in 2020 it came down and took support from 2017 level and again made a bull run.
Now presently we can see price went up and constantly failing to give a breakout at 41000 level and coming down and trying to go down.
There is a possibility that Nifty Bank will go back and test the pivot from 2017 (The first red level from the top.)
If it breaks the top red level then it can come down further to 2010 missed pivot point.
My study may not be correct, this is just a long term idea of mine. Please don't trade with my idea, it is only for educational purpose.
We can see clearly that from 2017 to 2019 the yearly pivots were missed, price didnt touch the pivots and went up. Then in 2020 it came down and took support from 2017 level and again made a bull run.
Now presently we can see price went up and constantly failing to give a breakout at 41000 level and coming down and trying to go down.
There is a possibility that Nifty Bank will go back and test the pivot from 2017 (The first red level from the top.)
If it breaks the top red level then it can come down further to 2010 missed pivot point.
My study may not be correct, this is just a long term idea of mine. Please don't trade with my idea, it is only for educational purpose.
Note
Maybe Nifty Bank Index will come to 35200 level....Trade with your own strategies. This is just my guess, i may be wrongNote
36800 is a major area for BN. This is my view , my study. I may be wrong
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