supertrades53

BANKNIFTY DOWNTREND CONTINUES

Short
NSE:BANKNIFTY   NIFTY BANK
1. BANKNIFTY has been showing more signs of weakens taking today's trading day into consideration this chart shows us that Banknifty is not being able to cross the trendline and is a good resistance

2. NIFTY has been trading inside the yesterdays trading range whereas on the other hand BANKNIFTY has been trading outside yesterdays trading range and the point that clarifies today's down move and what makes the resistance so strong is that the resistance is the same level as the downward trendline and 50% of the morning downward correction. both of these two things combined are making a good resistance zone

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