Short term - BankNifty under hammer

2016年8月10日

Today Nifty Index witnessed a huge profit booking. The one sector which came under pressure was BankNifty. BankNifty is consolidating at this level. The price pattern making Triple Tops, H&S and inevitably Flag pattern. All are hinting towards short term correction.

If price remains and take support at this level @18625 then it is ready to inch towards 18950 atleast 350 points move and if price penetrate the support level below 18625 then it can move towards 18336.

Regards,
ilyas