People had short position as the quarterly result was going to be announced, profits has decreased but the good thing is NPA has improved. Book value is increasing for the last 2 years.
Look for a confirmation entry if it closes above 188 in the daily time frame.
It's near the 50% retracement levels. You will have best R:R ratio here.
Banknifty is underperforming but it will start performing, as the nifty gave third breakout above 14570.
If it has to fall it will fall from here onwards but if it works, you will have favourable RR
It has also formed inverted hammer pattern on weekly time frame.
Look for a confirmation entry if it closes above 188 in the daily time frame.
It's near the 50% retracement levels. You will have best R:R ratio here.
Banknifty is underperforming but it will start performing, as the nifty gave third breakout above 14570.
If it has to fall it will fall from here onwards but if it works, you will have favourable RR
It has also formed inverted hammer pattern on weekly time frame.