BANK NIFTY - OBSERVATIONS

BANK NIFTY SEEMS TO BE IN A COMPRESSION MODE WITH A TOP AT 31781 AND HAVING SUPPORT ALONG THE INCLINED TREND LINE (FROM 2017).

IT IS ALSO OBSERVED THAT WHENEVER BN HAD DOUBLE TOPS IT REACTED BY 4000+ POINTS AND STARTED GOING UP.

ALSO, IT APPEARS THAT AFTER TAKING SUPPORT AT PRESENT LEVELS, BN SHOULD GO BACK TO 31781 IN THE LONG RUN.

FOR THE PRESENT, THE TARGET ON THE UP SIDE SEEMS TO BE AT 27,400 AND 28,000.