Banknifty heading towards 49000
BankNifty has recently undergone a retracement, bouncing off the 0.618 Fibonacci level. This retracement coincides with the emergence of a morning star pattern, a potential bullish reversal signal. The technical analysis suggests a favorable setup for an upward movement, with specific target levels indicated on the charts. Traders may consider monitoring these levels for confirmation of the anticipated upward trend continuation.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.