Sunandamedi

BANKNIFTY - WAIT FOR CLEAR DIRECTIONS

NSE:BANKNIFTY   NIFTY BANK
FROM THE 27000 LEVELS, BANK NIFTY IS TAKING SUPPORT OF THE TENKAN SEN LINE.

DOWNSIDE DIRECTION CONDITIONS-

THE SUPPORT IS AT 29893. BREACHING OF THIS LEVEL WILL TAKE BANKNIFTY TO 29158 (23% FIB. LVL ) OR 28400 (38% FIB. LVL ).

UPSIDE DIRECTION CONDITIONS-

IF IT TAKES SUPPORT OF THE TREND LINE , WHICH IS INCLINED, WILL GIVE NEW LEVELS.

Comment: SUPPORT IS BREACHED AND CLOSES AT 29845. 29158 IS EXPECTED.
Comment: TODAY LOW 29768.

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