5 Steps Analysis of BANK NIFTY
1. Bank Nifty on Daily TF we can see that today broken the strong trendline which upside rally was started from April.
2. At Morning Bank nifty has given good opening and made high of 43588 after 11 o'clock sharp downside rally was started and continue till at the end of the day.
3. Today we had seen 1024 points down side in bank nifty with high volume and momentum indicators are going weak on daily TF, so further down side we can see in coming week.
4. Today Bank Nifty has formed Falling Knife Candle pattern which shows uptrend is not continue further and down side or consolidation can see in coming week.
5. On Monday if Bank nifty break the 42600 level then further downside we can see at 41600 which is again 1000 point down side then may be can see at consolidation on that level and if break the 41600 level then further down side can see at 40700 levels from where rally was started.
1. Bank Nifty on Daily TF we can see that today broken the strong trendline which upside rally was started from April.
2. At Morning Bank nifty has given good opening and made high of 43588 after 11 o'clock sharp downside rally was started and continue till at the end of the day.
3. Today we had seen 1024 points down side in bank nifty with high volume and momentum indicators are going weak on daily TF, so further down side we can see in coming week.
4. Today Bank Nifty has formed Falling Knife Candle pattern which shows uptrend is not continue further and down side or consolidation can see in coming week.
5. On Monday if Bank nifty break the 42600 level then further downside we can see at 41600 which is again 1000 point down side then may be can see at consolidation on that level and if break the 41600 level then further down side can see at 40700 levels from where rally was started.