Nifty Bank Index

Confluence of reversal patterns

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This is Daily chart of Bank Nifty which has given confirmation to multiple reversal signals.

1. Rejection Candle on 11-12-23 had a good follow up move today.

2. Price Divergence with momentum Oscillator - confirmed by today's move

3. Bearish Crab pattern activated with today's move. Crab and Butterfly patterns appearing at significant lows / high (like all time lows / all time highs) sometimes gives sustainable trend reversal.

Let's see how this develops further.

Invalidation level above high of 11-12-23

Risk and Reward is all individual's choice.

Happy Trading!

Feragatname

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