BANK NIFTY - BULLISH BAT PATTERN|| DEMAND ZONE|| DAY TF
Bank Nifty is forming a XABCD bullish bat pattern. This pattern gives us a demand zone or a potential reversal zone from where the downtrend may reverse.
Buy bank nifty between 39850-39550
Stoploss 39290, below this level we may witness long unwinding as well.
If the RSI crosses below 50, the fall could be quicker until 30.
Best setup: RSI 30-20 and the price at the PRZ of XABCD.
Happy trading :)
This is just for educational purposes.
Buy bank nifty between 39850-39550
Stoploss 39290, below this level we may witness long unwinding as well.
If the RSI crosses below 50, the fall could be quicker until 30.
Best setup: RSI 30-20 and the price at the PRZ of XABCD.
Happy trading :)
This is just for educational purposes.
Unline Nifty, Bank Nifty has fallen past the ABCD swing extension. If the Bank Nifty gonna below the stop loss it could be slowly towards 37000 levels for a bullish run again.
The crab takes the extreme extensions, if the index reaches this 37000, it may reverse again. It won't say it'll go 37000.