NeelamN

BankNifty View 6 Aug 2021 Neutral to Bearish View

NSE:BANKNIFTY   NIFTY BANK
Banknifty had a volatile day and did not break highs or lows as planned yesterday...

Case 1 : Now, for tomorrow if price opens flat, still it will travel within the triangle lines to make a consolidation flag before breakout or breakdown is my main view.

Case 2 : It has formed left shoulder and head, also a bit of right shoulder but price did not reach the neckline, so, if we see gap down or price breaking the neckline with good volume 15 minute candle, then may short for immediate support targets.

Case 3 : If price opens above resistance 36000 / 36100 or breaks with good volume 15 minute candle then upside target of immediate resistance.

Plan your trade! Use Stop Losses. Trail your Stops to increase your gains without fear of losing.

Happy Trading !!!

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