Get started
Manickamtraders

#Banknifty directions and levels for May 21st.

Nifty Bank Index (NSE:BANKNIFTY)  
Manickamtraders  
NSE:BANKNIFTY   Nifty Bank Index
Harmonic Patterns Chart Patterns Elliott Wave BANKNIFTY bankniftytradesetup bankniftytrend bankniftyanalysis bankniftyview bankniftyintradaylevels
6
0
harmonicpatterns chartpattern elliottwaves banknifty bankniftytradesetup bankniftytrend bankniftyanalysis bankniftyview bankniftyintradaylevels
BankNifty has been consolidating after the sharp correction, which is totally different from Nifty. Anyway, if the gap-up sustains, we can expect the next target to be the 50% Fibonacci level.

An alternate scenario, similar to Nifty, suggests the possibility of a long correction if it breaks the 38% Fibonacci level. However, if it doesn’t break 38%, then the pullback will continue with some consolidation
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.