banknifty is in a channel and bearish for day only below 33400 above this it can bounce till 33800 level.
it is near 33500 level which is round number.
abcapital is making inverted head and shoulder pattern in higher time frame and in lower TF is is making flag pattern and trading near suppoprt zone.
positionally it can be taken with sl of 70 rupees in wclbs.
nifty 50 made a triangle pattern and given breakdown
but again enter inside the triangle so above 15940 it can fill the gap of 16160 level.
market is still sell on rise but as per daily tf. wait for right opportunity.
Nifty auto sector is consolidating between 9500 to 12000 from 2021.
And now making higher high and higher low in daily time frame.
It is just 500-600 point away from all time high when makret is in downtrend it looks llike soon it will breach all time high and will make a new all time high.
Banknifty has a gap between 33630 level to 34450 level and
Above 34500 it can touch 36000 level also.
It bounce from previous support level of 32300 but we are not seeing good buying in it.
So it is just an retracement.
We can see trend reversal only above 36000 level.
