Strong REJECTION from our trendline!! What’s next?
As we can see BANKNIFTY resisted exactly from our given trendline and closed below our trendline in weekly timeframe. We had a negative bias all the way through and waited for candle to close and we did see a negative pinbar candlestick confirming the downtrend. Now following the trend we can expect BANKNIFTY to fall more till it takes support around the next important trendline SUPPORT as seen in the chart so plan your trades accordingly.
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