Dinesh_C_Nagpal

CNX FINANCIALS & NIFTY PVT BANKS

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NSE:NIFTYPVTBANK   NIFTY PVT BANK
Both CNX FINANCIALS & NIFTY PVT BANK indexes have made Bearish Harmonic AB=CD which also happens to be v close to their weekly & monthly Ichimoku resistance. Financials could retrace till 10500 while Pvt Banks could retrace till 11500. View would negate if they move and sustain above 11500 & 13100 respectively.
Comment: CNX FINANCIAL approaching its min expected level of 10500, if that does not hold then next level would be 10300. NIFTY PVT BANK now at decent support zone of 11700-11400 which most likely could act as a strong support, however, if that gives way then next support is all the way down to 11000

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