Banknifty bearish short term
Bank nifty is looking bearish for the short-term, Though the huge wicks formed on the hourly chart are a bit concerning.
Since bank nifty is bullish on the monthly chart, I do not expect the prices to take down the weekly discount array. Instead, prices might fall to the daily discount array at 45481.50 which lines up perfectly with a mitigation block as well. So, as soon as Price reaches that level, I would be looking for longs on the five minute chart.
Since bank nifty is bullish on the monthly chart, I do not expect the prices to take down the weekly discount array. Instead, prices might fall to the daily discount array at 45481.50 which lines up perfectly with a mitigation block as well. So, as soon as Price reaches that level, I would be looking for longs on the five minute chart.
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