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...
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:
- A. If Banknifty remains above the uptrend channel .
- B. If Banknifty breakout the parallel channel .
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.
