Bank Nifty has made an all time High of 11110.95 (Futures) and is now down to 10741. Price candle has formed a Dark Cloud Cover RSI is over bought and STS is giving a sell in the OB region.
Although the BNF is in uptrend but all this reminds you to be on your guards. 10250-10200 is the key level to watch. If Bank Nifty fails to take support at these levels and drops further down we can see the formation of Wolve Wave on the weekly charts point 5 & 6 are marked on the charts we can see levels as low as 8000 approx.
The above view holds if we happen to close below 10200. The chart posted is weekly chart for Bank Nifty.
Happy Trading !
No comments:
Post a Comment
Your comments are Welcome ! Please restrict yourself to the subject.