Banknifty Analayis
Banknifty after a extreme bullish view posted way back (link in related idea section) has achieved most of the upside targets. The current weekly candle is not looking promising which has also formed on the top line of pitchfork which I had drawn long back, On weekly charts it has made a rising wedge kind of pattern and it has also not retested the previous ATH breakout as such (41800). This level is also around 38% fibo retracement of current swing from Sept low to latest high.
Some cool off in BN may be worth here ....
Some cool off in BN may be worth here ....
Note
View worked perfectlyTrade fermée: cible de profit atteinte
BN slowly cooled off from pitchfork top line to median line in last 2 months ...now making double bottom on weekly timeframe at median line. Further positional shorts are very risky
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Publications connexes
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.