jashjacob

BANK NIFTY BREAKOUT FROM PARALLEL CHANNEL POSSIBLE?

NSE:BANKNIFTY   NIFTY BANK
BNF is making fresh high in the last week. Lot of pundits in the market are bearish on Bank Nifty gains in the last week but the market is all more pushing itself up to new high. Biden Victory has added more fuel to market gapping up on 9th Nov over the parallel Channel respected in the last few months.

Will this sustain or will we see a retracement?

If it sustain above level, We can take a view for getting BNF back to pre-pandemic levels in the "short term".
Comment: This was a beautiful breakout. Strong bullish run.