bijoy2526

BANK NIFTY closes below 20 dma.

NSE:BANKNIFTY   NIFTY BANK
to which point this correction leads before resuming uptrend let us see.
if it breaks the channel (small black) targets are S1,S2.S3.as shown in the chart.
in case of channel break bank nifty may attempt to fill up the gap as shown in the chart.
in case it does not break the channel wait for reversal to take place
impulse wave may start well in the channel and its beak out out of the channel may take place.
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Comments

It appears slide towards down side will continue.
+3 Reply
as usual great analysis ..ultra legend sir you are
+1 Reply
bijoy2526 Harshaputtangoudaru
@Harshaputtangoudaru, thanks for your compliments.
Reply
Sir please post your view for bank nifty tomorrow
Reply
Looks like big downside move is completed in nifty in form of abc in daily, possible that bank nifty will move upside from the channel support (small black) by gapup on monday, else from the s1, s2, s3
Reply
bijoy2526 VishalSancheti
@VishalSancheti, from the charts it is appearing more correction may follow. it stops let us see.
Reply
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