Nifty bank is trading below 200 ma and 50 ma acted as a strong resistance for today session with Fibonacci 38.2% level too. BNF is also making W pattern or we can see Triple bottom pattern which is a trend reversal pattern. Wait for the trendline to break above for buying setup. Trade safe.
The much awaited breakout happened in Maruti In the week before the last one only. But, it is better to not fall prey to failed breakouts. Hence I waited this week to confirm the breakout.
1) Strong Chart patterns —
Triple bottom formation with triangle pattern breakout.
2) Reclaiming 20WEMA —
So the actual wait was not just the triangle breakout,...