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Bank Nifty Analysis For 1 Dec 2020

NSE:BANKNIFTY   NIFTY BANK
As you can seen in 1H time frame, Bank Nifty is forming a parallel channel pattern. And if we find levels, 29800 level is appearing as a resistance. If bank nifty breaks this level, it can run upto 30200 level. Before it bank nifty is stuck in a range between 29400 and 29700, if it gives breakout below or above this levels, it can test the channel.