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Trade-Technique

BANKNIFTY Don't overlook the BLUE channel, which is still active

Nifty Bank Index (NSE:BANKNIFTY)  
Trade-Technique  
NSE:BANKNIFTY   Nifty Bank Index
Trend Analysis Beyond Technical Analysis NIFTY BANKNIFTY indianmarket nse nseindia
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trendanalysis beyondta nifty banknifty indianmarket nse nseindia
The Gravitate price is being played such as magnet which has a yellow color with a number (0) to (8). If you see it closely from left (0) to (8).

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.

  • Formed bearish candle which resembles a 'Dark Cloud Cover' on the daily chart.
  • The important event of next month.

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.
Neutral stand
Daily chart credits go to @I-Fund-Trader
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