1. If you look Closely, BNF has tested the resistance zone about 6 times in last 5 trading sessions naking the zone weak. 2. The major trendline is the upward trendline that had retraced to 50% Fibo level and should continue the uptrend 3. The downtrend that stopped at 50% was just a retracement as it stopped at 50% 4. Currently at a good support zone.
With bank policy being in place at 10.00 am today, a positive trigger can lead to a good push in bank nifty. If it sustains the support zone, only then we can expect an upmove
DISCLAIMER: The ideas are merely for educational purposes. Please consult your financial advisors before taking any trade. Trade at your own risk.