NSE:BANKNIFTY
Bank Nifty has entered the bull market and is making higher highs and higher lows. 1 hour chart showed negative divergence and this stock could possibly retest its previous zone which is also Fibonacci 60% retracement which makes it an important zone. After the retest it could make new highs.
This breakout is based on a one day time frame basis. This stock is on uptrend making higher highs and higher lows, its last high was on 8th February 2021 after which it started forming bearish price channel and retested its previous deep retracement zone forming double bottom meanwhile 200 MA was also in the same retracement zone. Then came the breakout of the...
Nifty50 is performing extremely well and we can see an ascending triangle pattern breakout also it has retested its previous area of value and now it is trading above its previous high. 20,50,200 (EMA) is fanned out and the price is above these 3 moving averages.