Div_Trader

Banknifty - Lower highs formation | Bearish

Short
NSE:BANKNIFTY   NIFTY BANK
Contra bet in this bulllish Market.

Banknifty chart seems to have topped at 37700. Since then, It has been printing Lower highs with base of 34500 - 35000.

Index must break the lower high formation to turn bullish again Or Break the base of 35000

Index may test Previous All time high of 33000 which also happens to be 61% retracement of the whole 30000 to 37700 move as per fibonacci retracement tool.
Trade closed: target reached

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.