Nifty Bank Index

BANKNIFTY Parallel channel breakout

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BANKNIFTY has been moving in parallel channel for past 2 months. Today's closing is at crucial support level which has been tested around 7 times in couple of months. Also low is at the bottom of channel.

On the other hand, we have double bottom formation (7th & today) on the support level ( green line).

BUY only if Today's high is broken & sustained for 15-30 min
SELL only if green line is breached and sustained for 15-30 min

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