Akhil008
Long

BANK NIFTY | Long

NSE:BANKNIFTY   NIFTY BANK
BankNIfty             has been consolidating between 25680 and 25760 for almost 6 hours failing to break either way. Notice bearish divergence in MACD . However, technically 25680 is considerably a strong support in favour of the index. Supports comes through rising trendline and at 25180. 38% Fib retracement coincides around the same area. Though long term bull trend is still intact don't add longs aggressively. Rather add gradually as index gives discounts. And do note bullish triangle holding true with target coming at 26340. So once the index start moving up we could see it hitting 26340 with a temporary reaction to resistance en route @ 26000.
Comment: On the verge of taking out 26000. If breached I could see a sharp move upwards to around 26340
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