it seems it will break the channel.... Extended impulse wave on the cards .target 4 and target 5 achievable. Bank nifty and nifty both are on the strong grips of the bulls.. not only in India but also in the Asia pacific region. how ever Indian market is out performing. bears are sitting on the side line.. even in hourly time frame when bank nifty dipped in to over sold condition(stochiastically) once. it was immediately bought in to. but buying should be done with caution. as it has been proved many times when every body is bearish market bounces.. and when every body jumps in to stock market market starts declining. but at present indian stock market is not showing any sign of decline. happy trading...do n't forget to like my post
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targets T5 and target 6 should be instead of target 4 and target 5.