Breakout in Bank Nifty
There has been a very interesting Development in the market.
Bank Nifty which was a laggard till recently, has started outperforming Nifty. Today it has given a breakout forming inverse head & shoulder pattern.
Target is height of the pattern that is roughly 4000 points from here. However, resistance may come near 26400. Keep a stop loss below 18 days ema at 23,932
or a thousand points as per your risk profile. This is not an advice to buy or sell. For educational purpose only.
Bank Nifty which was a laggard till recently, has started outperforming Nifty. Today it has given a breakout forming inverse head & shoulder pattern.
Target is height of the pattern that is roughly 4000 points from here. However, resistance may come near 26400. Keep a stop loss below 18 days ema at 23,932
or a thousand points as per your risk profile. This is not an advice to buy or sell. For educational purpose only.
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.