Head and Shoulder done in bank nifty and what's next ?
Head and shoulders pattern done in bank nifty (head and shoulder indicates a trend reversal--mostly bearish )
We see that bank nifty is taking support 35600 almost 6 times on 5 min time frame.
This can be considered big zone for support , anything below may take bank nifty deep.
any cross over 36500 is bullish .
Note : RSI is king --- reversals from RSI 17/ RSI 26 ( gone are the days of RSI 35 for buy and RSI 70 for sell)
BANKNIFTY
We see that bank nifty is taking support 35600 almost 6 times on 5 min time frame.
This can be considered big zone for support , anything below may take bank nifty deep.
any cross over 36500 is bullish .
Note : RSI is king --- reversals from RSI 17/ RSI 26 ( gone are the days of RSI 35 for buy and RSI 70 for sell)
BANKNIFTY