Breakout in Bank Nifty
There has been a very interesting Development in the market.
Bank Nifty which was a laggard till recently, has started outperforming Nifty. Today it has given a breakout forming inverse head & shoulder pattern.
Target is height of the pattern that is roughly 4000 points from here. However, resistance may come near 26400. Keep a stop loss below 18 days ema at 23,932
or a thousand points as per your risk profile. This is not an advice to buy or sell. For educational purpose only.
Bank Nifty which was a laggard till recently, has started outperforming Nifty. Today it has given a breakout forming inverse head & shoulder pattern.
Target is height of the pattern that is roughly 4000 points from here. However, resistance may come near 26400. Keep a stop loss below 18 days ema at 23,932
or a thousand points as per your risk profile. This is not an advice to buy or sell. For educational purpose only.
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