NIFTYBANK DOUBLE BOTTOM, a Bullish Sign$NIFTYBANK DOUBLE BOTTOM, a Bullish Sign
A double bottom is made on Chart.
If breakout We may see the level of 23425
in the near term. Support is around 22490.
Updated on : 23 July 2020 1.00am
Disclaimer: Only for learning purpose.
if you like press Thumsup Button.
Niftybankanalysis
BANKNIFTY TRADING IN A CHANNEL.banknifty is trading in a parallel channel with upper resistance at 20975 and support near the lower channel 20145.A close above 20975 can see further upside and a close below 20145 will see the market testing back the day's low in near term.For intraday this zone can be traded for returns on both sides.
BANKNIFTY LATEST UPDATE...NOW AS WE HAD MENTIONED IN THE PREVIOUS CHART 19500 ZONE WOULD BE A TOUGH RESISTANCE AND TO BREAK THAT A GOOD GAPUP HAS HAPPENENED.INTRADAY LONGS CAN BE INITIATED ONLY ABOVE 20250 FOR A TARGET OF 20875/21125.THIS TYPE OF GAP UPS ARE REALLY BECOMING A PUZZLE TO SOLVE AS ALREADY WE HAD WITNESSED TWO ISLAND REVERSALS IN PAST BECAUSE OF SUCH GAPUPS.