We have seen selling and profit booking with high of 30058 which is also written by me. price is going to hit at "blue-channel-line" which is the point at 29387.
I have written yesterday: Don't overlook the BLUE channel, which is still active. Therefore, the blue support line pushes BankNifty price to upside 29387 nearby.
Click here to see more about yesterday what I said.
Below conclusion is from the daily chart:
If weekly close makes slightly higher then today price the continuation of the trend is possible till 32500
any reversal on daily one can look for a fresh entry for next move up.
credits go to @I-Fund-Trader
1. Market Wizards is a book written by Jack D. Schwager
2. Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications Hardcover by John J. Murphy (Author)
I will suggest other books. but these both interesting books and few are little tough which is belong Bloomberg theory.