Nifty Bank IndexShort
BANKNIFTY - HIGH ALERT!
BNF is exactly at the top of the rising wedge pattern on Monthly time frame with a Shooting star on Weekly time frame.
Evidently appears to be an inherent resistance right now unless this pattern is broken on the higher side and forms a reliable new channel or pattern
With the upcoming Pathmanabhan committee recommention on F&O segment and result season, we can expect a lot of volatility on the broader indices. But I am negatively biased for a upcoming correction to the tune of 10% to test Wedge bottom expecting further breakdown
What would be prudent and smart is left to your imagination
Disclaimer: This idea is for educational purpose only and does not constitute trading recommendation. Please do your own research or consult a SEBI Registered IA for Investment Advises
Evidently appears to be an inherent resistance right now unless this pattern is broken on the higher side and forms a reliable new channel or pattern
With the upcoming Pathmanabhan committee recommention on F&O segment and result season, we can expect a lot of volatility on the broader indices. But I am negatively biased for a upcoming correction to the tune of 10% to test Wedge bottom expecting further breakdown
What would be prudent and smart is left to your imagination
Disclaimer: This idea is for educational purpose only and does not constitute trading recommendation. Please do your own research or consult a SEBI Registered IA for Investment Advises
Note
Bang on retest zone 50350-49700. Made low 50194.3.. time for some retracement/consolidation before inching further down... 
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