BANKNIFTY WILL CONTINUE ITS DOWNTREND ??
As of now BANKNIFTY seems to be under international pressure wherein in these scenario not much of technicals work but in a long run BANKNIFTY and NIFTY is still bullish!
The reason being me saying BULLISH because every time the market tries making new lows, BULLS comes up and closes strong and the closing price of market is what decides the sentiments of market !
Level to look at for tomorrow at are
SUPPORT 1 - 32300 which acted as a NECKLINE for W pattern and reversed from that very level
SUPPORT 2 - the multiple rejections and a psychological level makes it very important
Could be a volatile day driven by world market pressure, trade cautiously
The reason being me saying BULLISH because every time the market tries making new lows, BULLS comes up and closes strong and the closing price of market is what decides the sentiments of market !
Level to look at for tomorrow at are
SUPPORT 1 - 32300 which acted as a NECKLINE for W pattern and reversed from that very level
SUPPORT 2 - the multiple rejections and a psychological level makes it very important
Could be a volatile day driven by world market pressure, trade cautiously
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