Banknifty Trend Report

20. Aug.

Hello Everyone 👋

Today Bank-Nifty Try to Break High if Bank-nifty Break High so we need to cut our Down position.

Give me Some Time Today We upload Some Levels So you Can I Easily Identify Trend.

1.Bullish Shark Harmonic Pattern: The BANK-NIFTY chart currently showcases a Bullish Shark Harmonic Pattern forming within a rising parallel channel. This pattern suggests a potential bullish move, provided that the price holds above the crucial level of 50,149. That level should act as a strict stop loss.

2.Recent Trend: On August 14, there was a trending move. The price consolidated in the morning for a few hours and then started to fall. Currently, the price is at a support level, and it can either move up or continue to fall. The trend direction is still deciding, so keep an eye on it.

3.Long-Term Investment Considerations: If you’re considering long-term investment in the banking sector, consider Bank Nifty ETFs. These exchange-traded funds offer easy diversification and flexibility.