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Nifty Bank Index
Long

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

By PromodSshrivastava
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?
BANKNIFTYChart PatternsTechnical IndicatorsTrend Analysis
PromodSshrivastava

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