BANKNIFTY WEEKLY MARKET FORECAST
Updated
The price perfectly fulfills my last idea. Good up move seen in last week in the price which leads to moment in the price towards upside and price made high of 41041 and hit the targets of 41000/41222. As mentioned before that #Banknifty trading in the Descending Parallel Channel and now near the upper side of the channel which previously acted as strong resistance for the price but this resistance now getting weak as price tested it 4 to 5 times. So if price breaks the upper channel of level of 41222 and sustain above it than price can sharply move upside and upper targets will be 41666/41888 and above this if price Sustain than we can also reach till the 42888. And if price not able to breaks the upper channel and drop towards the downside and closes below the 40811 than we can see the targets of 40444/40122 towards the downside. 41122 can act as strong support level for the price.
Comment
#Banknifty 👉Made new high of 41798✔️
1st Target Done @41666 ✅
41222--------> 41666🎯
Comment
#Banknifty 👉Made new high of 41920.85✔️
Price breaks the Descending Parallel Channel and also Sustained above the 41222 and hit the 1st & 2nd given targets @41666 & @41888.
2nd Target Done @41888 🎯
41222--------> 41888✔️
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