BANKNIFTY in rising wedge pattern, Is it showing weakness now..?
as we analysed yesterday BANKNIFTY did gave a breakout and gave a substantial move of over 300 point but gave closing at very crucial point
As you can see it is not trading in rising wedge pattern which is more like a sign of REVERSAL as the wedge becomes narrower hence we should not make any long position unless BANKNIFTY sustains above 38300
Further break or 38000 which is also a psychological level and important support we can target a minimum of 150-300 points downfall
As you can see it is not trading in rising wedge pattern which is more like a sign of REVERSAL as the wedge becomes narrower hence we should not make any long position unless BANKNIFTY sustains above 38300
Further break or 38000 which is also a psychological level and important support we can target a minimum of 150-300 points downfall