Bank Nifty - Breakout from the triangle to decide the next trend

25 May 2022

Well it is visible that market has reversed from the same point where the gap exists. It is important to either move through the gap and breakout from the triangle set up or if the breakout from triangle is downwards, then expect a target near 31500 - 31800 in the near term. As far as tomorrow is concerned with expiry day, i guess lots of zero to hero options will come into play in banknifty and nifty. Tomorrow will be decisive. Either downwards or upwards near to 700 - 1000 points movement. Mostly, the setup indicates downward movement.