Nifty Bank Index
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BANKNIFTY 1st FEB 2024 - UPTREND EXPECTATION

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Banknifty may continue UPTREND

CHART PATTERN : Bullish Pennant formation

The technical analysis suggests that Banknifty is poised to sustain its upward momentum, indicated by the presence of a Bullish Pennant formation on the chart.

An opportune entry point would be if the market opens flat tomorrow and experiences a breakout, signaling a continuation of the uptrend.

Alternatively, in the event of a gap down near the 0.5 Fibonacci Level and trendline, a potential upward movement may occur, especially if there is a formation of higher highs (HH) and higher lows (HL).

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交易結束:目標達成

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