Banknifty has formed inverted head& shoulders pattern and has given the first target of shoulder’s length and retraced back to take support at the broken Trendline . We will have to wait and see if it can go back to give the target . Immediate resistance then before that comes at 40400. So I expect market to give minimum first target at 40400 if it crosses 38800.
THIS ANALYSIS IS PURELY FOR OBSERVATION AND STUDY AS MARKET IS STILL IN THE INDECISIVE ZONE NOW ON THE DAILY TIMEFRAME.
THIS ANALYSIS IS PURELY FOR OBSERVATION AND STUDY AS MARKET IS STILL IN THE INDECISIVE ZONE NOW ON THE DAILY TIMEFRAME.