Bank Nifty closed exactly near tomorrow CPR Level There is upside and Down Side 368 point chances for movement.
In Daily time frame Bank Nifty Nifty formed Spinning Top, most probably Bank Nifty will fall.
Also Nifty is swining in the selling zone.. when nifty falls bank nifty will also fall.
There will be 2 Scenario:
Scenario 1: If N50 unable to hold Cpr for 1st 15 mins, this will break the previous week high and it will go further.
Scenario 2: If N50 Breaks the level of R1 and previous day High this will move further ..
Since it is narrow CPR tomorrow will be the trending day..
Most probably tomorrow, in my view there will huge fall, because of...
Currently Nifty closed Near CPR level. Tomorrow Nifty may open with gap down by testing the level of Previous day Low @ 11238.00 or test S1 level @ 11229.37..
Also Nifty completed its Tripple Top (Which can be identified in Higher Time frame) Which is posted below.
It is being expected for small retracement. this will happen tomorrow (11-08-2020)