There are few reasons for the above observation, They are :
1. There is a Bearish Bat harmonic pattern formed. Only a small correction happened
2. A Head and Shoulder pattern formed which gives a bearish signal
3. A cup and Handle pattern also formed which gives a bearish signal
4. A triangle pattern can be seen. It is in the way of downward breakout, and,
5. The RSI bearish divergence gives a bearish formation.
All these information gives a Bearish formation in Bank Nifty.
Note: The information given here is for the study purpose.
1. There is a Bearish Bat harmonic pattern formed. Only a small correction happened
2. A Head and Shoulder pattern formed which gives a bearish signal
3. A cup and Handle pattern also formed which gives a bearish signal
4. A triangle pattern can be seen. It is in the way of downward breakout, and,
5. The RSI bearish divergence gives a bearish formation.
All these information gives a Bearish formation in Bank Nifty.
Note: The information given here is for the study purpose.