lokks like banknifty ready to downtrnd again while traping buyers.short below last swing break .
its right time to buy sanofi.
its find a bearish HNS pattarn and 50% retracement rejaction in banknifty. its sign of downtrend.
nifty will taking rejection from big time frame tradline.
Bullish hns pattarn find in nifty.if market open flat or gap up (into 30to 50 points).than we trad for long after break this neckline.
i am only price action trader.easy and simple analyze better than complex and complicated ideas
its look like double bottom. & support on 60 min time frame & 50% retracement on fibbo. now we hope its complate its channle pattern.
if candle break the tradline with volume confirmation without breaking 1397 price lavel (ignor gap up opaning).than L&T ready to fly.
i believe banknifty pull back from this lavel.