BANK NIFTY has reached a crucial resistance zone and seems to be topping out.
You can clearly notice a H&S pattern formation setting up on the 15 min chart.
The price is unable to sustain at the highs.
While the overall trend still remains quite Bullish, a reversal can be taken here for a modest target to 56,225 price level which is the Weekly Pivot support.
P.S. Not a recommendation. Pls do your own due diligence.
You can clearly notice a H&S pattern formation setting up on the 15 min chart.
The price is unable to sustain at the highs.
While the overall trend still remains quite Bullish, a reversal can be taken here for a modest target to 56,225 price level which is the Weekly Pivot support.
P.S. Not a recommendation. Pls do your own due diligence.
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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.