Nifty Bank IndexShort
Banknifty : Head n Shoulder Pattern (Preparing for a big Fall ?)
Updated
Banknifty is showing resistance at 53700 n fall from there.
a possible Head n Shoulder Pattern is emerging.
Banknifty might hold the lead in fall in capital market.
do not take positions in banking sector unless it closes above 53700.
closing above it will move very higher within few weeks
Put Stoploss on closing basis.
(In Trading Time it may go above/below stoploss But closing price is most important).
These are levels are generated on the basis on Fibonacci Series
NOTE : I am not SEBI registered advisor in capital market.
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Please understand Risk in trading before taking any trade with your financial consult. I am only sharing my knowledge it may be right or sometimes wrong so I am not liable for any loss.
Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's.
Thank you.
a possible Head n Shoulder Pattern is emerging.
Banknifty might hold the lead in fall in capital market.
do not take positions in banking sector unless it closes above 53700.
closing above it will move very higher within few weeks
Put Stoploss on closing basis.
(In Trading Time it may go above/below stoploss But closing price is most important).
These are levels are generated on the basis on Fibonacci Series
NOTE : I am not SEBI registered advisor in capital market.
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Please understand Risk in trading before taking any trade with your financial consult. I am only sharing my knowledge it may be right or sometimes wrong so I am not liable for any loss.
Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's.
Thank you.
Trade active
When Banknifty Closes below 50000 with volume then actual meltdown will start.
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.