#banknifty, I was going through the hourly chart and figure out the something which I thought of sharing.
BN taking support from 22,050 - 22,150 zone constantly and the previous swing low of 21,866 is getting respected and on a closing basis, bank nifty was able to pull back the price inside the rising trend channel.
This suggest, the uptrend still continues and if we don't violate 21,850, we are heading towards 23,300 and 24,300 in the next couple of weeks.
So going further, it's advisable to buy in dips, as long as 21,850 holds.
Just to keep in mind, I hope this situation never arises:- But looking at the geopolitical situation, any bad news might have to serve impact on the index. If somehow we break 21,400 this time, we might retrace back to 19,000 levels
BN taking support from 22,050 - 22,150 zone constantly and the previous swing low of 21,866 is getting respected and on a closing basis, bank nifty was able to pull back the price inside the rising trend channel.
This suggest, the uptrend still continues and if we don't violate 21,850, we are heading towards 23,300 and 24,300 in the next couple of weeks.
So going further, it's advisable to buy in dips, as long as 21,850 holds.
Just to keep in mind, I hope this situation never arises:- But looking at the geopolitical situation, any bad news might have to serve impact on the index. If somehow we break 21,400 this time, we might retrace back to 19,000 levels
