BANKNIFTY November 8, 2023
BankNifty turns bullish as expected!
On November 7th,
BANKNIFTY broke through neckline resistance with a bullish momentum candle, confirming the bullish trend that we have been anticipating.
The weekly chart shows a rising wedge formation, which could lead to a short-term bullish trend, with BankNifty breaking through 45,000 and reaching an all-time high before reversing.
I have plotted and adjusted support and resistance levels on the chart. Please watch the market closely and trade accordingly, especially on expiry day, as there may be surprises.
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On November 7th,
BANKNIFTY broke through neckline resistance with a bullish momentum candle, confirming the bullish trend that we have been anticipating.The weekly chart shows a rising wedge formation, which could lead to a short-term bullish trend, with BankNifty breaking through 45,000 and reaching an all-time high before reversing.
I have plotted and adjusted support and resistance levels on the chart. Please watch the market closely and trade accordingly, especially on expiry day, as there may be surprises.
Like and follow me for more updates!
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