BANKNIFTY came down from its high in Oct 2021 around 41800 to today trading around 32650. The downfall is around 21.9% from its high.
BANKNIFTY is far below its 200 DMA, i.e. 36650. Russia Ukraine's elongated war, crude prices, and fear of increasing inflation are taking the markets further down.
FIIs are continuously selling; yesterday sold more than 7500 Crores worth of holding. DIIs are not able to match the selling pattern of FIIs.
GANN Square of 9 support levels are 32500 and 31600, and resistance levels are 33400 and 34300.
Ichimoku clouds are showing green, but the patterns are fully bearish.
BANKNIFTY is far below its 200 DMA, i.e. 36650. Russia Ukraine's elongated war, crude prices, and fear of increasing inflation are taking the markets further down.
FIIs are continuously selling; yesterday sold more than 7500 Crores worth of holding. DIIs are not able to match the selling pattern of FIIs.
GANN Square of 9 support levels are 32500 and 31600, and resistance levels are 33400 and 34300.
Ichimoku clouds are showing green, but the patterns are fully bearish.