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#Banknifty directions and levels for JAN 4th

Nifty Bank Index (NSE:BANKNIFTY)  
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NSE:BANKNIFTY   Nifty Bank Index
Harmonic Patterns Chart Patterns Elliott Wave BANKNIFTY bankniftytradesetup bankniftytrend bankniftyanalysis bankniftyview bankniftylevels
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harmonicpatterns chartpattern elliottwaves banknifty bankniftytradesetup bankniftytrend bankniftyanalysis bankniftyview bankniftylevels
Banknifty might also open with a gap-up, supported by Giftnifty. If it breaks the immediate resistance of 38% convincingly, we can anticipate a continuation of the pullback.

Conversely, if it fails to sustain above this level, there might be consolidation between the 38% and the demand zone. In such a scenario, we could wait for a breakout. Should it break the consolidation pattern, we can consider a breakout entry.
Penafian

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