Banknifty: HNS breakdown on daily chart
Going forward till 24350-24400 is not crossed retest of support @ 23600-23400 where price is likely to take support with 23.6% retracement of entire move from 17600 to 25200
Break below 23400 with volumes opens for further downside till 23000
Only on close above 24400 trend will change till then use rally to reduce long positions
With price trading below 20DMA & 50DMA and oscillators below its average trend will remain bearish
Going forward till 24350-24400 is not crossed retest of support @ 23600-23400 where price is likely to take support with 23.6% retracement of entire move from 17600 to 25200
Break below 23400 with volumes opens for further downside till 23000
Only on close above 24400 trend will change till then use rally to reduce long positions
With price trading below 20DMA & 50DMA and oscillators below its average trend will remain bearish