BANKNIFTY is trading near critical juncture
BANKNIFTY is trading near a critical juncture now. As it is breaking down from a 6-day consolidation range, it is finding support on the up-trending line from mid-March 2023, when the current uptrend started. It is pertinent to note that it is the first breakdown from a consolidation (albeit just 6 days) since the beginning of the current uptrend. If BANKNIFTY breaches the up-trending line, next support can be expected near 44550. A beach of 44550 level creates a first lower-low indicating a change in the trend character. For the present I am watching these levels closely.
Caveat: Future price action can change the structure of the market, and the current understanding.
Only personal observation. No recommendation,
Caveat: Future price action can change the structure of the market, and the current understanding.
Only personal observation. No recommendation,
Raju KMS Datla
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Raju KMS Datla
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.