Banknifty review

16 set 2022

just observe the bank nifty chart and you will realize how price action is built and respects trendline, in current scenario once red trendline is broken and preferably retest/ consolidate then we can see a good up move, like in abv chart happened 22-27jul after breaking black dotted trendline, then it retested on 23 n 29 aug (marked rectangular box) and again up move.. previously it did not broke up those trendline (circle marked), also BN making a channel with blue border, if BN falls n comes around 40000-40300 that would be best level as it would have EMA 20 support to jump further.