Building momentum in “Nifty Bank”
It has been 10 trading sessions where we can see a momentum building up in Bank Nifty.
Bank Nifty is facing a common resistance at 33747 level. However, the bulls are getting impatient thus forming higher lows and eventually forming the most effective charting pattern- Triangle pattern
We may witness any one of the following
1. A slight retracemen before it can blast off to 34289-34624 levels
2. The bears may just have lost their control and we may see a breakout on Monday’s session itself
In either scenario, one thing is common that a breakout is on the way.
The analysis is just for educational purpose. Hence, traders/investors are advised to do their own research before entering into any position (Long/Short)
Bank Nifty is facing a common resistance at 33747 level. However, the bulls are getting impatient thus forming higher lows and eventually forming the most effective charting pattern- Triangle pattern
We may witness any one of the following
1. A slight retracemen before it can blast off to 34289-34624 levels
2. The bears may just have lost their control and we may see a breakout on Monday’s session itself
In either scenario, one thing is common that a breakout is on the way.
The analysis is just for educational purpose. Hence, traders/investors are advised to do their own research before entering into any position (Long/Short)
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