Is BANKNIFTY forming FLAG-POLE pattern..?
As we can see BANKNIFTY is forming more like a flag-pole pattern which is also a bullish continuation pattern if the structure breaks but we can also see a trendline resistance which had been resisting BANKNIFTY for quite sometime now. Hence we can expect a trap if BANKNIFTY breaks but couldn’t sustain itself above the structure which could lead a to a bigger fall so plan your trades accordingly.
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