BANKNIFTY finally showed strength and we saw over 1000 points rally in single run, our sell side level didn’t get breached hence we didn’t make any position as planned and analysed!
Now BANKNIFTY is standing at very crucial levels as it has formed more like triple bottom pattern right at bottom and the resistance which is around 36800 which has been tested multiple times and expected to break and it has also broken the trendline which had been following since last month high resulted to this massive move
This level has also acted as a good support previously and hence this level break can give rise to minimum 300-400 points one sided rally
Now BANKNIFTY is standing at very crucial levels as it has formed more like triple bottom pattern right at bottom and the resistance which is around 36800 which has been tested multiple times and expected to break and it has also broken the trendline which had been following since last month high resulted to this massive move
This level has also acted as a good support previously and hence this level break can give rise to minimum 300-400 points one sided rally