Essjay

Bank Nifty Double Top in daily charts

NSE:BANKNIFTY   NIFTY BANK
Dear all,
Does this qualify as a double top which has formed on the daily chart of bank nifty .
Does that mean that the rally has come to an end in Banknifty?
i think you are right
Reply
If bank nifty breach 23810 decisively, it can be assumed that a Top has been formed therefore short position can be taken however a breach of or close above 24335 means the bubble may take some more time before bursting.

Nifty bank PE 27.41 (1 year high is 31.5)

Nifty PE 25.43 (There is a high probability that nifty will first touch 9000/9100 before hitting 11000 mark)

Reply
Time for round-2 of big trades on bank nifty,bas kim jong un hamara saath de de :P :D
Reply
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