techD_007

BANK NIFTY - NEAR LONG TERM SUPPORT

NSE:BANKNIFTY   NIFTY BANK

Bank Nifty has a broken boxed area and is trading near a long-term support area .

1. Possible false breakdown may be shown for negative bias as shown in the chart.
2. Possible to take support from long-term channel support and get stuck in box range again.


If takes support from channel support, a quick breakout towards upside may be seen (unlikely).
If breaks down the channel (likely due to negative divergence in nifty in 1H time-frame) good near support is available.

DYOA. Good Luck.

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