Bank Nifty - Roller Coaster Ride- Are We Expecting A Big Fall!!!

WaveTalks Updated   
NSE:BANKNIFTY   Nifty Bank Index
Expiry Week Outlook- A Short Video. Thanks

Impulsive sequence unfolding from the tops of 44151 on 14th Dec 2022. From Budget day - 1st Feb 2023, Index has been doing a roller coaster moves so we need to be careful as next downside trend may start soon once key & critical levels are breached on downside.

Trade closed manually:
11:10 Hrs / 3rd March 2023

Last - 41201

Index breached 1st level 40350 slightly yesterday but failed to breach 40090 which is 2nd confirmation suggested for the downside.

Opened gap up & reached 41259 - Day High & buying clearly visible above 40692 -key level.

Next resistance level is 41292 - which is very important. 41200-41250 is tricky zone, we will wait to see what pattern unfolds next. Anytime falling below 41200 & holding below 41292, Bears might surprise Bulls by taking market into their grip.

Best Regards,
Abhishek H. Singh
​Growth Director - TradingView India

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