hey24sheep

Bears are coming ?

Short
NSE:BANKNIFTY   NIFTY BANK
What a day in bank nifty , up by 100 points early morning and then down by 200 points.

Well, here is my view for this week.

BNF is making Three Black Crows , MA(14) could cross soon below MA(26) and a downward flag. I believe that we could easily see trend reversal now at least of 500 points.

I don't think it will go up but, if it creates bullish candles over 29720 and breaks 29850 and goes up we could see bulls and if it crosses the new high of 30008, go long.

I personally feel like it will go down, once it breaks 29575-29507, It could easily go to 29325.

You could see the supports and resistance as per my analysis on the chart.

What are your views? Let me know :)

Thank You, Happy Trading

Disclaimer: I am not a registered broker or analyst these are only my opinions based on current market and I am not responsible for anything based on my idea. Do your own research before trading.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.