Bank Nifty short Term view
Atualizado
Bank nifty making triangular pattern with higher lows and lower highs taking into account last 4 swing peaks which means it can give breakout in either of the direction.
For now it is supposed to traverse towards ~47850-47950 once it crosses below 48200 in next 2 days means by 31st May.
Then if market anticipate stable govt on 4th June it must take support and move upwards. Only in case of election results disappoints or exit poll disappoints badly then bank-nifty might break below the lower trendline.
For now it is supposed to traverse towards ~47850-47950 once it crosses below 48200 in next 2 days means by 31st May.
Then if market anticipate stable govt on 4th June it must take support and move upwards. Only in case of election results disappoints or exit poll disappoints badly then bank-nifty might break below the lower trendline.
Nota
* It is not a trade advise but technical analysis shared based on my understanding of patterns and personal experiences, please take any trade at your own risk.
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