#BANKNIFTY GANN LEVELS, PENNANT, ELLIOT WAVES AND CHANNEL

Bank nifty is running in a uptrend channel and formed a pennant pattern now. Currently it is moving in between important Gann levels i.e 24836 and 24210. A wise trader should wait for breakout/breakdown from this levels instead of pennant.


For bulls- Holding above 24836 levels will push Bank nifty towards 25470.
For bears - Holding below 24210 (More precisely below 24099) levels will push Bank nifty towards 23531.


See the previous idea, where at the end of wave 4th we captured bullish impulsive move.
Link below.