Banknifty - has not move from last 6 days
From the last six days bank nifty has given closing near the 41500 level and in price action theory price can not remain the same for a longer period of time it has to move either upside or downside.
And that trending move bank nifty can give us on Monday either up or down, most probably it will be on the upside as bank nifty is still bullish.
So our analysis will be if it breaks the previous day's high (PDH) i.e 41680 we can easily get the target of 42000 as there is no resistance.
If in case it breaks the previous day's low (PDL) i.e 41430 our targets will be 41290 and 41110 levels.
Note - I'm not sebi registered, this is only for educational purposes. Do your own analysis first.
And that trending move bank nifty can give us on Monday either up or down, most probably it will be on the upside as bank nifty is still bullish.
So our analysis will be if it breaks the previous day's high (PDH) i.e 41680 we can easily get the target of 42000 as there is no resistance.
If in case it breaks the previous day's low (PDL) i.e 41430 our targets will be 41290 and 41110 levels.
Note - I'm not sebi registered, this is only for educational purposes. Do your own analysis first.
Feragatname
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