Multiple Bearish Factors for BankNifty
After a big bullish Impluse, BankNifty is correcting. We could see formation of wave C at 40000 levels, If it Indeed is Wave C and retraces at standard Fibonacci Extention of 0.786 from 40000, We could see Bank Nifty falling to 37500 levels.
Note
There is also a Bearish Head and Shoulder pattern forming in banknifty, Which also indicates target of 37500
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.
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.