Yesterday Banknifty took support at 0.5 level of fib retracement level, if today market opens gap up we should be bullish and if bankfinty breaks yesterdays low we should turn bearish. more or less today i think markets will recover slowly. Because of yesterdays corporate results nifty and banknifty fell like nothing. so lets wait for the market to open and see...
BANKNIFTY given a breakout yesterday and closed above the top trendline. So, today there are 2 possibilities in banknifty, one is : taking support at top trendline and rallying to the next resisitance. Sencond one is : break down of top trendline and again trading in the descending triangle pattern. Lets see what happens today.
HDFC brocken the trendline, who went already long can take 1642 as target. Since it breaked out the trend line with good momentum im expecting it will met the target.
