Can we see 32000 next month? BN weekly analysis.

2021년 12월 26일

Bank nifty last week tried to break out of the downward channel. It was not supported by nifty and so the fall was huge in the last two weeks. Even though it has recovered, it is not strong enough for a break out.
It is almost near 100 % retracement levels, which in itself is a strong support.

How to trade next week?

Banknifty needs to touch the upper resistance of the channel before it falls again. On the next few sessions, we can expect a small upward movement with a maximum of 35350 - 35450 levels, after which we can expect a huge fall.