After facing some heat from the larger Timeframe Trendline resistance Banknifty consolidated for almost 5-6 months if we look at a larger timeframe but in AUGUST it has closed nicely above 35600 which was acting as a resistance.
As of now chart of Banknifty indicates good accumulation just below the trendline resistance and if it takes out this resistance we can expect Banknifty to reach our previous target which is 42000.
Link- https://www.tradetales.in/banknifty-42000/
A daily close above 36870 and we are heading towards 42222.
#HarmonicBat
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Disclaimer- This post is for educational purposes only kindly consult your financial advisor before taking any decisions we’re not liable for anyone’s profit and loss.
PEACE.