bijoy2526

BANK NIFTY attempting to break out of consolidation

Long
NSE:BANKNIFTY   NIFTY BANK
it has been consolidating since 17 th February.
breaking out of the channel will confirm its breaking out.
today it closes above 20 dma which is positive for it.
although it has formed red candle it has higher high and higher low.
it appears it is going to touch the channel line soon.
easy stop loss should be today's low.
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Comments

If it consolidates in this Zone, chances are it will break the Upper channel. It seems it is waiting for Q1 results for NPA issue.
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bijoy2526 sajid11
@sajid11, it may not wait for long.it has closed above 20 dma is positive for it. Breaking out of channel is confirmation of its further upside movement .
Reply
dnpmail bijoy2526
@bijoy2526, What are the targets for banknifty?
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