Head and Shoulder Pattern in BankNifty

Singkat

Nifty Bank Index (NSE:BANKNIFTY)

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NSE:BANKNIFTY Nifty Bank Index

trendanalysis chartpattern banknifty bankniftytrend bankniftyanalysis head_and_shoulder

BANKNIFTY Seems to be bullish above 39327, as this level is a Virgin POC. Till then sell on rise is advised. I've plotted these Red Horizontal Rays according to the Session-wise volume profile POCs plotted on

BANKNIFTY Futures. POC's work as strong support and resistance as they are the level of smart money.

If

BANKNIFTY breaks the level of 38409 then we can see

BANKNIFTY retesting 37736 and 37168 levels.

Hello Trader. Above is purely my opinion. It doesn't mean that you need to trade accordingly. Please note that I'm not Sebi registered advisor or technical analyst. Trade on your own conviction and please consult your advisor before investing.

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