BANKNIFTY- Extracting Triangle is finally done and dusted

The market action has finally negated the Extracting Triangle hypothesis but another equally sucker pattern is rearing its head in the form of an Expanding Triangle. The supply line runs around 22800-23100. Watch out and keep booking profits in longs. Our COIL has also met the minimum objective and hence trail stop very close to the market action. One can keep 21345 as stop.