pathiyil.praveen

Bank Nifty: Ichimoku Analysis

Long
NSE:BANKNIFTY   NIFTY BANK
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1
Bank Nifty is lagging Nifty in terms of ichimoku structure on daily scale. Here in Bank Nifty we can see that the prices are not within the cloud; making it more room to scale it up with that of Nifty . Once Nifty hits 8400 mark (that is upper boundary of the cloud); we could see correction or sideways action and I feel it is during this phase Bank Nifty will match up Nifty or as usual could also outperform Nifty . i.e. Bank Nifty could potentially close above the cloud well before Nifty does.