Bank Nifty - Key Support Level - Bounce or Break Down?

Nifty Bank Index (NSE:BANKNIFTY)

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NSE:BANKNIFTY Nifty Bank Index

trendanalysis chartpattern india niftybank

Bank Nifty has been in upwards bullish channel since April 2021. Currently its at key Support level - Channel lower trend line. It can either bounce back (Green line) to test upper channel trend line or break down (red line) to test support levels marked in green. Its still in bullish trend, high chances to bounce back up.

コメント:

BANK NIFTY broke two of the support lines that I marked earlier 37753, 36885 today. Couple of more down day, will shift short term trend bullish to bearish and soon try to test the other support levels at 35780 and 34820 in next few weeks. For the bullish trend to continue, NIFTYBANK needs to get back into the Parallel Channel.

コメント:

Targets 35780 and 34820 will be achieved sooner.

トレード終了: 利益確定目標に到達:

35780 target achieved, soon it will test 34820. Long term investors can start accumulating with small positions at these levels.

トレード終了: 利益確定目標に到達:

NIFTYBANK breached the 34820 target today.