Bank Nifty - Mount 25K likely, if bullish H&S works
Bank Nifty can be bought at current levels as it is under formation of bullish H&S pattern. At current levels of 21500, the Reward/Risk is 7:1, an extremely compelling case to take a long trade with SL below 21000 and target 25000!
The one-time loan restructuring news for banks will be good trigger for the upmove to commence.
The one-time loan restructuring news for banks will be good trigger for the upmove to commence.
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Although the expected pattern did not play out, the risk reward was good at the time of entry which is giving over 1100 point gains.
Book profit and Exit from the trade.
Book profit and Exit from the trade.