BankNifty - Parallel Channel & Flag Pattern - Long - Confluence
Hi All,
BankNifty was formed in the parallel channel and Flag Pattern and the index was breakout and retested.
The index was now trading around the FIB Retracement level of 61.8Pct.
Since the Index was breakout the parallel channel and Flag Pattern. The Index was turn around to the Bullish trend.
Target 1 - 36000
Target 2 - 37700
The index was formed the bullish engulfing on 22Apr21 and EMA 50 & 20 was meet out for the buying mode.
BankNifty was formed in the parallel channel and Flag Pattern and the index was breakout and retested.
The index was now trading around the FIB Retracement level of 61.8Pct.
Since the Index was breakout the parallel channel and Flag Pattern. The Index was turn around to the Bullish trend.
Target 1 - 36000
Target 2 - 37700
The index was formed the bullish engulfing on 22Apr21 and EMA 50 & 20 was meet out for the buying mode.
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