MAKE OR BREAK ? BANK NIFTY

Bank Nifty on weekly time frame looking some fresh weakness is initiated there gives a weekly close below an important level of 43800 after six weeks so if price will sustain below 43600 with bearish strength and sentiments we can see more downside in this index for touching the supports below, Added Fibonacci extension on this chart which also indicates that the Golden ratio of 0.786 derived and touched two times in the process of making a Double top on this chart, Mine view is Bearish and i am looking that first it is going to touch supports below not the swing highs which is it's all time highs too and will deploy a sell on rise strategy in it, that's why publishing this chart in Short category this is an purely educational idea for Fibonacci extension, Double top etc so for that reason not putting target and stop loss in it please do self analysis and share your valuable feedbacks in comment section.


NOTE- Only for Education Purpose.

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Comment:

PRICE REJECTED NEAR AT 43800 LEVELS WHICH I MENTIONED IN THIS IDEA, BUT STILL SUSTAING ABOVE 43600.
TODAYS' HIGH IS 43773 AND THE LOW IS 43541, NEW TREND COULD ARRIVE AFTER THE RANGE BREAKOUT OF TODAY'S HIGH LOW ON DAILY CLOSING BASIS.

Trade closed manually:

BEARISH VIEW WAS NOT WORKED AS IT NOT SUSTAINED BELOW 43600 AS MENTIONED IN IDEA FOR GO SHORT, TODAY BROKE ALL TIME HIGH SO NOW IDEA CLOSING MANUALLY. WILL PUBLISH A NEW ONE AS A FOLLOW UP FOR THIS IDEA.