BANKNIFTY in a descending channel, false break expected!!

Jul 12, 2023

As we can see similar to NIFTY, BANKNIFTY can also be seen in a tight descending channel getting rejected from both sides making it weaker hence we can expect BANKNIFTY to break either side now which could be a possible trap before finally continuing its uptrend hence we can look for signs of reversal after the break has been done either side for a good strong rally so plan your trades accordingly

Jul 13, 2023

Trade closed: target reached

exactly as analysed! gave false break above the trendline showing signs of bullishness before the sharp fall