BankNifty is in clear Bearish channel and seems possible to test the low of the channel which is around 38000 so expecting to touch that tommorow with global sentiment also weak, further levels marked on chart below 38000.
If channel low holds we can go long from there with price action on that level. If channel breaks techically the length of channel above will be seen downside which is 3000 to 3300 points more fall.
If channel low holds we can go long from there with price action on that level. If channel breaks techically the length of channel above will be seen downside which is 3000 to 3300 points more fall.
Comment:
Bank nifty taking support near to low of the channel. 38500 to 38300 needs to break for more selling pressure, if it succesfully holds this level might retrace t 39500 mid of channel and then fall again from that level.
