nano6yogesh

Banknifty – Trendline broken

Short
NSE:BANKNIFTY   NIFTY BANK
Banknifty has been very weak since past 2 months and Friday’s fall suggests the weakness might extend further.

I can see RSI divergence on weekly chart and also breaking of the long term trendline.

We might have a pullback but so long as 26400 levels are not broken, it can retest or break Friday’s lows in coming weeks.

Good shorting opportunity for a first target around 25000 levels.



Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.


Comments

First target done quite early !!...Heading towards second target !
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