1. If you look Closely, BNF has tested the resistance zone about 6 times in last 5 trading sessions naking the zone weak.
2. The major trendline is the upward trendline that had retraced to 50% Fibo level and should continue the uptrend
3. The downtrend that stopped at 50% was just a retracement as it stopped at 50%
4. Currently at a good support zone.
With bank policy being in place at 10.00 am today, a positive trigger can lead to a good push in bank nifty.
If it sustains the support zone, only then we can expect an upmove
DISCLAIMER: The ideas are merely for educational purposes. Please consult your financial advisors before taking any trade. Trade at your own risk.
2. The major trendline is the upward trendline that had retraced to 50% Fibo level and should continue the uptrend
3. The downtrend that stopped at 50% was just a retracement as it stopped at 50%
4. Currently at a good support zone.
With bank policy being in place at 10.00 am today, a positive trigger can lead to a good push in bank nifty.
If it sustains the support zone, only then we can expect an upmove
DISCLAIMER: The ideas are merely for educational purposes. Please consult your financial advisors before taking any trade. Trade at your own risk.