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Bank Nifty Preparing to gain for a bigger Fall

Short
Nifty Bank Index (NSE:BANKNIFTY)  
Pivotal_Traders Updated   
NSE:BANKNIFTY   Nifty Bank Index
Trend Analysis Fibonacci BANKNIFTY NIFTY banks indianstocks Rising Wedge trendbreak
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trendanalysis fibonacci banknifty nifty banks indianstocks risingwedge trendbreak
Bank Nifty is weak. It has recently broken the uptrend maintained in the past few weeks. However for the next 2 - 3 days a upside move is possible to be seen only to witness a greater fall in days following it.
Stay cautious and downsize your positions.
Comment:
BANKNIFTY achieved the taget much much much before than anticipated. The weakness was evident in the past 2 weeks and a very easy downward push has been witnessed.

Further looking for 17,500 as the crucial point to determine year's low in the instrument.
Comment:
PM announced 20 lakh crore package and market is gap up. A retest to 20,300 level and around is important for a greater fall.

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