Triangle pattern forming in Banknifty
A triangle pattern has been formed on the chart of the Banknifty index...
As the broader market is in an uptrend, the move will be faster if it breaks on the lower side. And a bigger target can be expected if it breaks down.
The first target on the downside is ~43500.
SL must be at the top of the candle that breaks the triangle.
And trading this pattern if this breaks on the upper side must be avoided as there is no clear target .
Disclaimer:Not investment advice
As the broader market is in an uptrend, the move will be faster if it breaks on the lower side. And a bigger target can be expected if it breaks down.
The first target on the downside is ~43500.
SL must be at the top of the candle that breaks the triangle.
And trading this pattern if this breaks on the upper side must be avoided as there is no clear target .
Disclaimer:Not investment advice
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