IamGeorgy

Bank Nifty formed a 'Head and shoulders' inside a rising wedge

NSE:BANKNIFTY   NIFTY BANK
There is a 'Head and Shoulders pattern visible in Bank Nifty in confluence (which joins) with the lower trend line of a rising wedge .
All the major banking stocks either went sideways or showed bearishness on June 1st 2021 too.
Hence below 35420, Bank Nifty might be bearish .

PS: I am not a SEBI registered advisor. Enter or exit in trades after reaching out to your advisors or at your own risk.

Comments

Good analysis & observation
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IamGeorgy natarajanshankar
@natarajanshankar, Thanks man. Let me know if it helps you tomorrow.
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