Bank Nifty - Bearish Butterfly at 39505 Highs Let us recollect the most important psychological level of 39500 as discussed could be the most critical level at present. A bearish butterfly harmonic structure completes in the required PRZ & reasons for fall discussed below & shown on the price chart.
Possible Reasons for Fall
Bearish Butterfly Harmonic Structure
Evening Star Candlestick Formation
Psychological level 39500
Bearish Divergence ( RSI)
Stop Loss
Above 39505
Targets Downside
Target 1 - 39120
Target 2 - 38740
Target 3 - 37691
Target 4 - Will unfold once wave develops
Thank You
