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Nifty Bank Index
Long

banknifty- after 30 trading sessions, close above 50/100/200EMAs

48
banknifty is looking extremely positive now that it has closed above 50/100/200EMAs on the daily chart after 30 trading sessions. PCR is overbought, so some minor correction could follow, however the large bullish candle could see a followup on Monday. Vix is at 18.435, so long term investment money is likely to start flowing in. CPR is wide so we could see some sideways consolidation before a breakout. What do you think?
PromodSshrivastava
BANKNIFTYChart PatternsTechnical IndicatorsTrend Analysis

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BANKNIFTYChart PatternsTechnical IndicatorsTrend Analysis
PromodSshrivastava

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.