As mentioned in the chart, looking at the level at which Banknifty currently is, there is at long term trendline resistance,a rising wedge which seems to have come to an end and a possible Head and Shoulders pattern in the making.
Would look for shorting opportunities here with a stop few points above 27900 for a target around 26400 and 25600 levels.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
Would look for shorting opportunities here with a stop few points above 27900 for a target around 26400 and 25600 levels.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.