Bank Nifty Analysis: 10-05-2023
Bank nifty, in 15 minutes chart, lies above 50 and 200 ema. Further, triangle patterns are forming. Tomorrow (11-05-2023), we wait until this triangle is broken either upside or downside (it depends on the breakout in Kotak Mahindra Bank, HDFC Bank, and IndusInd Bank). If those banks move positively then the tremendous move will be there in BN upside. On the other hand, a breakdown happened in those stocks, and BN will move tremendously downside. Probably, at 12 pm the breakout/down is expected. Furthermost, levels are given in the chart.
Bank nifty, in 15 minutes chart, lies above 50 and 200 ema. Further, triangle patterns are forming. Tomorrow (11-05-2023), we wait until this triangle is broken either upside or downside (it depends on the breakout in Kotak Mahindra Bank, HDFC Bank, and IndusInd Bank). If those banks move positively then the tremendous move will be there in BN upside. On the other hand, a breakdown happened in those stocks, and BN will move tremendously downside. Probably, at 12 pm the breakout/down is expected. Furthermost, levels are given in the chart.
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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.