Long

UPDATE: BANKNIFTY 15 min Chart Analysis

Updated

BANKNIFTY had downward breakout as the odds were in favour due to reversal diamond pattern. Now we are in a broad channel with a odds of upside breakout. Check out my wave analysis to get a broader picture.

Note

On 5/15 minute TF, BANKNIFTY has formed a wedge Bull Flag and a broadening top pattern. Hmm.. Bears are still strong. Bulls need to clear today's High for bullish confirmation.

Note

BANKNIFTY has a sell climax opening. This might lead to a recovery to the top. possible double bottom on 5 minute chart.

Note

BANKNIFTY formed a triangle at the bottom. Hmm.... still 50% chance for upside.

Note

BANKNIFTY formed a wedge bottom on 5 and 15 minute chart. 60% chance of reversal / sideways and 40% chance to continue downtrend.

Trade closed: target reached

raakaeshbomma

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.