BankNifty Today Analysis - Stance Bearish ⬇️
Look at what the Gap-up did today to BankNifty, it messed around with the resistance level of 47539. Was it a genuine break? Absolutely NO. Would that have shocked the Bears? Absolutely YES. Gaps are the easiest option available for the manipulators to scare off the retail crowd.
4mts chart link
Again the 280+pts...
It is been observed on the daily chart that the price action is forming lower lows and indicating further weakness ahead.
Target 1- 1540
Target 2- 1510
SL - 1600
Trendline breakout of Bearish side on NCC. MACD and RSI trending on bearish side.
Trade:
Short below - 87.00
Target 1 - 85.00
Target 2 - 82.80
Stop Loss - 89.50
Note - Trendline already broken on downside.