BANKNIFTY AGAIN EXCLUSIVE RESEARCH (must read)

VIEW
*YES OUR PRIVATE BANKING INDEX IS SHOWING HEAD AND SHOULDER PATTERN ON WEEKLY CHART
*IF THE INDEX BREAKS DOWN I AM EXPECTING A TARGET OF 30K-29K IN THE FOLLOWING MONTH
*YES INDEX IS OVERSOLD PCR IS DOWN BUT IT DOES NOT MEAN MARKET WILL FALL
*EVERYONE IS BUSY TRYING TO FIND THE BOTTOM BUT NO ONE IS TRADING WITH THE TREND

charts no one is talking about
indusind bank
kotak bank
private sector banking index
icici bank
axis bank

now for relativeness check this us mkt index weekly chart we posted

HOW WILL I POSITION THE TRADE
*index has a crucial support zone of 32400-31800
*it has tested it multiple times
*the bounce from those level have resulted in 4000-5000 point move atleast
*so if we close below 32000 on closing basis or below 31800 for safe traders
*i am expecting a move towards 30500-30000 in short-term from there the pattern can give a throwback/pullback
*once below 30000 it can extend towards 27000-28000 levels

DISCLAIMER
*my views are not trade recommendation
*please consult your financial advisor
*do not over trade
*manage risk and manage risk appetite
*for live market update click on the link in signature box
*it my personal channel for live F&O TRADES
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