Once HDFC Bank gives a Bullish 15 min Breakout from Previous Week's High, it can cause a Huge Rally on the upside and combined with ICICI Bank, will propel Bank Nifty to new All Time Highs.
ICIC is on the verge of a strong breakout. If yesterdays High is taken out, you can expect a strong momentum which will cause Bank Nifty to also reach 48,600 levels. Then only HDFC Bank needs to join the party.
NIFTY can potentially have an up move once it breaks out of Triangle pattern and the 17600 strong ceiling/resistance as per OI data.
Target Long once this level is breached.
Axis Bank could potentially break out of Channel as there is a perfect W Break out happening.
If it crosses the swing high in Weekly, there's a strong probability of Up Surge.
Kotak Bank seems to be headed for an upward Breakout of channel Pattern in Daily Time Frame.
It would be advisable to wait and watch whether this is a genuine break out or it retraces back into the channel for one more round of downswing. If there's a positive break out, wait for retrace back to support & go long..
HDFC has had a break out from the Channel Pattern and has retraced back to the Breakout.
Resistance should act as a Support and we could have a good probability of a Higher High Formation in the next couple of weeks.
HDFC BANK also has a similar formation. If these two Big guns get going, Bank Nifty could see a bounce back into the 38000 ~ 38759 Zone.
HDFC Bank has had a break out from the Channel Pattern and has retraced back to the Breakout.
Resistance should act as a Support and we could have a good probability of a Higher High Formation in the next couple of weeks.
HDFC also has a similar formation. If these two Big guns get going, Bank Nifty could see a bounce back into the 38000 ~ 38759 Zone.
Nifty seems to be moving sideways in a Triangle pattern. Once breakout, 16757 - Resistance on upside) & 16447 - Support on downside.
Will need to wait and watch which was market moves once these key levels are breached.
