BN is in pullback mode from lows of 24400 and is showing a clear pattern on upside.
Trend Breakdown :
BN breached the up-trend in Sept 2018 which started from Mar 2016 and is now retesting the up-trend support which now becomes resistance for BN .
Supertrend Resistance :
Any weekly close above 27800 on BN would change the signs to an overall position. But if BN closes below 26800 on weekly, it would open lower levels for BN .
Head & Shoulder Pattern :
BN is clearly showing a pattern.
Now with 1 close of above 27800 on weekly vs 4 bear case scenario: Lets see who wins.
With Budget 2 weeks away on 1st Feb --
Long above 27800 on Weekly Close !
Short below 26800 on Weekly Close !
Bullish Stance confirmation above 10960 in Nifty & for BN Long above 27800 on Weekly Close !
Break of 10835 on Nifty either today or tomorrow would mean confirmation for downside!!