Currently banknifty created a supply zone at 38450-38850 So now it can make a low of 37000 After that when it makes a bearish candle at it supply zone we can short it for the targets of 36800 / 35000 Only short at bearish candle And put stoploss as entry candle's high
banknifty form a triangle pattern which is near breakout levels are provided on chart.
BANKNIFTY is following an ascending triangle pattern on 4H time frame Either side can give us a great move Upside go long if it is able to sustain above 37100 and on the downside below 36500, we can make a short trade with a target of lower trendline which is near 35500-35600
IIFL gives a cup and handle pattern breakout on daily time frame If it is able to sustain above 300 then we can go for a great swing trade with targets of 350/400 with strict stoploss of 270 Duration of trade after entry will be 1-2 months
AU Bank made a rising wedge pattern on daily timeframe After a bearish engulfing candle it made inside candle on low of this inside candle we can make a trade of downside with stoploss of high of inside candle it can be a fast movement targets are provided on chart Keep it in watchlist and also check banknifty along it.
Banknifty is making a flag and pole pattern We can make positional trade if it is able to sustain above 35750 with stoploss of 35500