Greetings! As per my Technical Analysis Learnings from my Guru Mohd Shaad sir, I think Bank nifty is going towards 20000 (or even lower) in coming months Everything is mentioned on chart
1.Trend line resistance
2.Bearish Divergence (price up, RSI down)
3.Bearish Engulfing
4.H&S pattern (possibly)
5.Elliot wave 1,2,3,4,5 pattern on both weekly and monthly
6.Nifty, Dow, seems Bearish too
Targets 20,000 in next few months and If 20000 breaks, then next target around 18000
Please share your views in comments
Thanks & Regards Sumeet Lunia New Delhi 30th Dec, Sunday