Banknifty has broken the trendline and moving downwards, any upside from here will be an opportunity to short.
This analysis and view is based on pivot points and Major S&R , also the institutional and retail psychology.
Nifty is forming this Bullish ABCD pattern i guess, its still not complete, but the parameters are showing that it will work out like this.
As discussed in the last analysis, nifty has touched the level 9500 levels and bounce back, now there is one more bounce expected before it falls, that level is mentioned on the charts.
This can be the trend for next week , since nifty is at support levels a technical bounce is due and will take nifty again to previous high but within the trend line, 10337 still remains the resistance.
Take a look at this, trying to hit retailers SL since morning, but a break above or below given level can have a sustainable movement
everyone is thinking reliance is overbought and is ready to fall but please have a look at this before you take any short side trade, its just on the verge of breakout guys.