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SantoshIyengar

BANK NIFTY Fall expected for atleast 3 days more.

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Nifty Bank Index (NSE:BANKNIFTY)  
SantoshIyengar  
NSE:BANKNIFTY   Nifty Bank Index
Chart Patterns Technical Indicators BANKNIFTY trendtrading
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chartpattern indicator banknifty trendtrading
Ortodox Channel that i discovered in BankNifty.
02:57

1. Indicators in the Monthly chart.
a. Price Action - 3 Bearish candles for Dec, Jan, Feb. (Possible 3 crow)
b. MACD - Cross under on the way. (14 points away)

2. Indicators in Weekly Chart
a. Price Action - 41729 is now a resistance.
b. Stochastic - Cross under near.
c. RSI - 48.56 (already low in strength)

Conclusion, Further fall expected with healhty retracements of 50% or above.
Will bet on PE with more lots than CE.


Ideas expressed here although are based on the data that i observe as possible trends.
I will not be responsible for any trades taken on these analysis. Its meant only for Educational Purposes.

Idea Berkaitan

SantoshIyengar
Ortodox Channel that i discovered in BankNifty.
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