Nifty Bank IndexShort
Bank Nifty (Spot) Positional view
Bank Nifty has most probably formed a double top around 39600 which should get confirmed once it breaks and closes below 38400 and if it does so then that could be a major breakdown which may lead to a major sell off as suggested on charts as well,
BankNifty is also in process to form a H&S which should get confirmed once it breaks below 37450 post which we may see some real capitulation here which can lead to quick1500-2000 points sell off,
All these bearish view will get negated only if Bank Nifty manages to close above 39600 (Levels are as per Bank Nifty spot).
BankNifty is also in process to form a H&S which should get confirmed once it breaks below 37450 post which we may see some real capitulation here which can lead to quick1500-2000 points sell off,
All these bearish view will get negated only if Bank Nifty manages to close above 39600 (Levels are as per Bank Nifty spot).
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.