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BANKNIFTY ANALYSIS

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NSE:BANKNIFTY   NIFTY BANK
HELLO TRADERS,
As we can head and shoulder pattern are making banknifty spot chart on daily time frame.
there is two types of head and shoulder making. If shaded h&s made so breakout is confirmed today
OR curve blue line h&s work then isn't yet breakout confirmed we need to do wait for breakout hope we can see breakout tomorrow.

BULLISH LOOKOUT- If banknifty open gape up and took support of 31100-31120 and trade above this level then we can see bullish move in banknifty resitance will be 31310-31350.

BEARISH LOOKOUT - If banknifty open gape down and took resistance of 31900-31800 and trade below this level then we can see 31500, 31300 level as bearish trend as breakout we can see more fall in banknifty if breakout done or happen tom.

CONSOLIDATION ZONE - 31900-31050 beware to take position in this range.

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