Techview On Bank Nifty for 19/04/2021
As per the Recent events bank nifty is in huge pressure and failing all its support and now trading around its PRE-COVID level after strong rally.
banking and NBFC sector are in big Pressure because of Rising 2nd wave of Covid-19.
As per the chart bank nifty given a breakout from sideways trend and take support around 30550 and given reversal from this level since showed good recover but now the 32340 that once the support for sideways trend is acting as Resistance for bank nifty.
Short bank nifty only when you find Resistance and buy only on Support.
On Monday There is More chances of GAP-down opening buy only if it take support around 31120, if it breaks Go short on bank nifty for the target of 30550 with stoploss of 31340.
Disclaimer:- Do your own Research Before Investing, Trade on your own Risk.
banking and NBFC sector are in big Pressure because of Rising 2nd wave of Covid-19.
As per the chart bank nifty given a breakout from sideways trend and take support around 30550 and given reversal from this level since showed good recover but now the 32340 that once the support for sideways trend is acting as Resistance for bank nifty.
Short bank nifty only when you find Resistance and buy only on Support.
On Monday There is More chances of GAP-down opening buy only if it take support around 31120, if it breaks Go short on bank nifty for the target of 30550 with stoploss of 31340.
Disclaimer:- Do your own Research Before Investing, Trade on your own Risk.
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