Bank nifty chart study
Updated
Bank nifty monthly time frame
Ascending wedge pattern formation
index is almost at resistance zone, still can keep buffer of 500-700 points on higher side
if wedge pattern is followed index might give good reversal going ahead.
in between of wedge if observed index have retraced 3 times
approx retracement are around 9%-12% and 22%
on lighter note if we consider that this time retracement will be around 9-12% than fall of 4500-6000 points is possible as per past performance of index.
i have total right to go wrong
Ascending wedge pattern formation
index is almost at resistance zone, still can keep buffer of 500-700 points on higher side
if wedge pattern is followed index might give good reversal going ahead.
in between of wedge if observed index have retraced 3 times
approx retracement are around 9%-12% and 22%
on lighter note if we consider that this time retracement will be around 9-12% than fall of 4500-6000 points is possible as per past performance of index.
i have total right to go wrong
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from 48650 to 454503200 point down
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