As we can see Nifty Bank is forming a 3 black soldier pattern on a daily timeframe showing support at 42000. The downward trend will continue as per the formation of next candle on 9th Jan. Before that it seems the market will hold its bearish trend which will go upto 41500.
But if it forms a Doji Pattern on next candle then there will me a massive reversal in trend which tends Nifty bank to move upward to reach 44000.
Will review on Monday.
Boost up my post if it is helpful and insightful.
But if it forms a Doji Pattern on next candle then there will me a massive reversal in trend which tends Nifty bank to move upward to reach 44000.
Will review on Monday.
Boost up my post if it is helpful and insightful.
Trade active:
For tomorrow we can assume 42300 as a neutral line and if it starts rising for first 15 minutes (5 min candle) and if 4th candle will close green then we can see its resistance near 42700& above.
Initial support will be 41600.
Good Night.
Initial support will be 41600.
Good Night.
