Bank Nifty Swing View

Jun 9, 2022

Friends, I am sharing some observations on Bank nifty. As I have marked in the daily chart, price is making a similar retracement pattern. Every time price gets rejection at 50% then gives a mark up to the new high. Expecting the same to follow here too. As well as, it is forming a double bottom pattern in daily chart and the possible neck level would be the diagonal trend line (green). In that case, we can expect higher levels of 38000-38100 in 1-3 months time. In that case, 34661 to act as a base and we may plan long positions with 38100 target. For educational purpose only not a trade recommendation.