NIFTY BANK UNDER WORLD MARKET PRESSURE
AS DISCUSSED YESTERDAY THAT ONE FALL IS EXPECTED IN BANKNIFTY AND THATS WHAT WE SAW IN BANKNIFTY, THOUGH WE SAW A HUGE GAP DOWN AND SOME RECOVERY IN FIRST HALF BUT YOU CAN SEE IT REVERSED EXACTLY AT OUR LEVELS DISCUSSED WHICH WAS AROUND 35300-400 WHICH WE DECIDED TO BE A SUPPORT, WHICH HAS TODAY REACTED AS A RESISTANCE
AT LAST CLOSING HOURS WE DID SAW A SMALL RECOVERY FROM 34900 WHICH HAS PREVIOUSLY ACTED AS A SUPPORT TOO
NOW 34900 WILL ACT AS A VERY CRUCIAL LEVEL AS IF IT BREAKS THEN NOT ONLY A SUPPORT WOULD BREAK BUT ALSO A PROPER HEAD AND SHOULDER BREAKDOWN WOULD BE THERE IN BIGGER TIME FRAME AND 34900 WOULD E ACTING AS A NECKLINE FOR THE SAME
KEEP AN EYE ON 34900, ITS A VERY IMPOTANT LEVEL, ONE SHARP FALL CAN BE WITNESSED OF OVER 400-800++ POINTS IF BROKEN
AS DISCUSSED YESTERDAY THAT ONE FALL IS EXPECTED IN BANKNIFTY AND THATS WHAT WE SAW IN BANKNIFTY, THOUGH WE SAW A HUGE GAP DOWN AND SOME RECOVERY IN FIRST HALF BUT YOU CAN SEE IT REVERSED EXACTLY AT OUR LEVELS DISCUSSED WHICH WAS AROUND 35300-400 WHICH WE DECIDED TO BE A SUPPORT, WHICH HAS TODAY REACTED AS A RESISTANCE
AT LAST CLOSING HOURS WE DID SAW A SMALL RECOVERY FROM 34900 WHICH HAS PREVIOUSLY ACTED AS A SUPPORT TOO
NOW 34900 WILL ACT AS A VERY CRUCIAL LEVEL AS IF IT BREAKS THEN NOT ONLY A SUPPORT WOULD BREAK BUT ALSO A PROPER HEAD AND SHOULDER BREAKDOWN WOULD BE THERE IN BIGGER TIME FRAME AND 34900 WOULD E ACTING AS A NECKLINE FOR THE SAME
KEEP AN EYE ON 34900, ITS A VERY IMPOTANT LEVEL, ONE SHARP FALL CAN BE WITNESSED OF OVER 400-800++ POINTS IF BROKEN