But what is going to be the trigger , Elections? Coalition Government? Trump impeachment rumor?
Just a matter of one powerful bad news or rumor.
HNS neckline is at 10000, so if Nifty breaks 10500 support this time moves downwards, then more probable chances of 10000 break and completing HNS at 9000.
Just a view, no trade based on this.
As we can see BANKNIFTY is at an interesting level.
from current levels...
if it shows a reversal sign( 2 red candles closes below the previous one )
then go short.
if it continues to show the current trend then go long for red resistance line.