Banknifty directions and levels for February 20th:
Bank Nifty Current View:
Bank Nifty is a bit different from Nifty; it has a bullish structure, resembling a "Flag pattern." If the market initially pulls back and breaks the minor rejection zone, we can expect further rally continuation. If it reaches there with gradual movement, it may not go up significantly.
Alternate View:
This is similar to the first one. If the market finds support around the immediate support level, we can expect a continuation of the pullback. Conversely, if it breaks that level, we can expect a minimum move to the channel bottom before the next correction target.
Bank Nifty is a bit different from Nifty; it has a bullish structure, resembling a "Flag pattern." If the market initially pulls back and breaks the minor rejection zone, we can expect further rally continuation. If it reaches there with gradual movement, it may not go up significantly.
Alternate View:
This is similar to the first one. If the market finds support around the immediate support level, we can expect a continuation of the pullback. Conversely, if it breaks that level, we can expect a minimum move to the channel bottom before the next correction target.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.