Overall Markets are weak but in Banking segment a clear breakdown can be seen in ICICI BANK
Would recommend not to trade unless the marked area is broken
This is Bank Nifty Daily Chart with Fibonacci Levels, 61.8% is acting as a Resistance and also there's a Gap Down Resistance being identified. For Bank Nifty to Rally crossing this level would be important.
With Bank Nifty trying to Gain Momentum, Close above the Trend-line might give a good up move.
It has given a breakout above the trend line and company has been in an uptrend.
CLOSE ABOVE THE TREND-LINE MIGHT GIVE A GOOD MOVE.
