sunnyramidi

Bank NIfty - Possibilities towards 34000

Short
NSE:BANKNIFTY   NIFTY BANK
Bank Nifty has been forming higher highs on daily timeframe . Alongside, Higher lows are being made and are being defended.
With the current Higher High giving up to form Higher Low... if we can protect 35000-34800 range and form Higher Low, then BNF is headed towards new Higher Highs @ 37000.

However, if we break the Last swing low at 34500, then we are going to fall back to next swing low at 34000.

Please see, all these are probabilities (based on past data) and not any confirmations. So plan your trades accordingly.
Comment: Nice rejection from Lower High - 35000

Comments

Price visited the first Higher low..

If we hold this then very soon we will see 36000-36300

If not then we will fall back to 34500-34000.
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