saikrishna7838

Simple technical view of bank nifty(spot)

NSE:BANKNIFTY   NIFTY BANK
Bank Nifty (spot) exactly faced resistance at 25232 where 200 day MA and gap resistance area is present, it recently broke the wedge pattern on the upside and mostly just coming back to retest , watchout for 23900 levels where 50% fib retracement level lies , if sustained further upmove is possible.
Personal view: Bullish as long as 23900 levels hold.
Disclaimer: These are just my personal observations , Please do your own research or consult an advisor before doing any investment or trading.
P.S: Constructive criticism is appreciated.

Comments

Thank you so much for this information bro! Keep posting idea! It is helping alot! Keep up the good work
+1 Reply
saikrishna7838 RaamakrishnanVG
@RaamakrishnanVG, Sure thing.
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update bank nifty broke 23900 levels , view changed to neutral to bearish .
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