IlyasShaikh

BANK NIFTY - Flag Pattern or Descending triangle?

NSE:BANKNIFTY   NIFTY BANK
5
Happy Independence day to all !!!

After a huge upmove, Banknifty is consolidating and it is making a flag pattern in 60 minute chart.

We have to wait and see if Tuesday is a Gap up or Gap down. Gap up will mean the breakout of the range which will make index to inch more higher. If it is a Gap down, one can play for the target of 18540.