BANK NIFTY will come back and look for support
5th feb candle in the daily chart is completely out of the Bollinger band. This indicates that the Bank Nifty will take a sharp turn to return and find a solid support.
On the other hand, weekly charts have a very strong bullish engulfing pattern which means that uptrend might just continue.
The gap between the trendline and the candles is way above understandable limits.
overall, i will wait before entering any long positions. Not only that, one can go short with strict stop losses.
On the other hand, weekly charts have a very strong bullish engulfing pattern which means that uptrend might just continue.
The gap between the trendline and the candles is way above understandable limits.
overall, i will wait before entering any long positions. Not only that, one can go short with strict stop losses.
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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.