Nifty seems to be at the top of its bull run and Bank Nifty has not shown promise of upside due to the sudden falls seen.
No Clear direction in Bank Nifty, on the Hourly TF there is a Head and Shoulder pattern forming. Support Resistances are marked on the chart.
Head and Shoulder Pattern: In technical analysis, a head and shoulders pattern describes a specific chart formation that predicts a bullish-to-bearish trend reversal. It is one of several top patterns that signal, with varying degrees of accuracy, that an upward trend is nearing its end.
No Clear direction in Bank Nifty, on the Hourly TF there is a Head and Shoulder pattern forming. Support Resistances are marked on the chart.
Head and Shoulder Pattern: In technical analysis, a head and shoulders pattern describes a specific chart formation that predicts a bullish-to-bearish trend reversal. It is one of several top patterns that signal, with varying degrees of accuracy, that an upward trend is nearing its end.