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Manickamtraders

#banknifty directions and levels for FEB 23

Nifty Bank Index (NSE:BANKNIFTY)  
Manickamtraders  
NSE:BANKNIFTY   Nifty Bank Index
Harmonic Patterns Chart Patterns Elliott Wave BANKNIFTY bankniftytradesetup bankniftytrend bankniftyanalysis bankniftyview bankniftytrading bankniftylevels bankniftyintradaylevels bankniftyintradaysetpup
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harmonicpatterns chartpattern elliottwaves banknifty bankniftytradesetup bankniftytrend bankniftyanalysis bankniftyview bankniftytrading bankniftylevels bankniftyintradaylevels bankniftyintradaysetpup
Banknifty also has the same sentiment, but there is no solid pullback. However, if the gap-up sustains and breaks the Fibonacci level of 78% (47160), then we can expect further continuation.

The alternate view is the same as with Nifty. If it rejects sharply around the 78% or if the gap-up doesn't sustain, then initially, we can expect a 23 to 38% Fibonacci correction. After that, if it finds support there, it may form a range for pullback continuation. However, if it breaks the Fibonacci level of 38%, then the correction may continue, and we can expect the Fibonacci level of 78% to the swing low."
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