NSE BankNifty: Technical Analysis

forextidings Updated   
First, I recommend reading the previous report of BankNifty .
Link: BANKNIFTY Can't Wait to Fall – Even Without NIFTY's Help

According to technical analysis , Banknifty is trying to collapse. It needs solid support to reenter into the uptrend channel . The strong support is nearby the 34600 level. It will try to retest 35260 - 34880 - 34600 levels this week.

The uptrend will start in below two conditions:

MACD, DMI, MA, and Volume are signaling bears are stepped in.

What will happen if conditions break? Don't miss reading the next report...
Trade closed: target reached:
Bank nifty reached the first target of 35260.


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