⚠️ BANKNIFTY breakout and growth
In February, the price of the index reached an all-time high.
Then it broke through the strong resistance line (August 2017) 36468.7.
Then it collapsed to trend support 32572.4.
This line is the border of the growing channel.
It was formed in May 2020.
Due to the influence of strong resistance, the price broke through the support line.
I believe this is a false breakout.
The price is at the local support (Dec 2020) 30624.3.
I expect it to push off and break through the resistance 33111.3.
And will rise to strong resistance.
The target is 37007.5.
--------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
Then it broke through the strong resistance line (August 2017) 36468.7.
Then it collapsed to trend support 32572.4.
This line is the border of the growing channel.
It was formed in May 2020.
Due to the influence of strong resistance, the price broke through the support line.
I believe this is a false breakout.
The price is at the local support (Dec 2020) 30624.3.
I expect it to push off and break through the resistance 33111.3.
And will rise to strong resistance.
The target is 37007.5.
--------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
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