Symmetric triangle pattern on BANKNIFTY(Neutral chart pattern)
37720 is the support and it's just above support and it has sustained it well
Upside Targets: 38000,38232(if green candle sustains above 38064) and 38459
Downside Targets:37508 and 37083
Positives: 1. Major trend Uptrend
2. Well placed above 5,20,50,100,200 DMA
3. RSI, MACD and Stochastic all showing bullishness
Negatives: 1. HDFCBANK and KOTAKBANK not performing well
2.ADX(14) is 19.85 which is weak trend
NOTE: 1. Keep a neutral stance
37720 is the support and it's just above support and it has sustained it well
Upside Targets: 38000,38232(if green candle sustains above 38064) and 38459
Downside Targets:37508 and 37083
Positives: 1. Major trend Uptrend
2. Well placed above 5,20,50,100,200 DMA
3. RSI, MACD and Stochastic all showing bullishness
Negatives: 1. HDFCBANK and KOTAKBANK not performing well
2.ADX(14) is 19.85 which is weak trend
NOTE: 1. Keep a neutral stance
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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.
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.