MayurAtale

MayurAtale

After forming double top on 20th Sep, Bank Nifty on hourly time frame is likely to continue its downward trend till its support region of 38500. There is also likelihood of it retracing it 40000 levels and then continue it journey downwards. Rest I think chart is pretty self explanatory.

MayurAtale

Bank Nifty might continue to be on short side at least 39600. Short side continued from the high of 41600 making first wave till 40900. Second wave showed a nice pull back till 0.618 ratio. Similar pull back for 4th wave also can be seen. NSE:BANKNIFTY