BANKNIFTY is sequentially making lower highs and lower lows , thus breaking the structure, on Friday BANKNIFTY retest its previous lower high and exhibit a sharp retracement towards the down side in order to make a new lower low.
BANKNIFTY might hold on its fall for a day or two in order to factor in budget news, but since the long structure is broken we can anticipate it touching 29000 in the coming week with a certain degree of confidence.
BANKNIFTY might hold on its fall for a day or two in order to factor in budget news, but since the long structure is broken we can anticipate it touching 29000 in the coming week with a certain degree of confidence.