NIFTY & BANKNIFTY Chart Analysis 26/01/2022

NIFTY CMP 17277


1) NIFTY taken a support at Upper end of the Channel with a Bullish Green candle.

2) Retracement happened at 78%

3) Global cues to be watched, to understand temporary correction in the Nifty.



BANKNIFTY CMP: 37706



1) BANKNIFTY formed a Bullish Engulfing Candle on the daily chart

2) Also there is a Inverted Head & Shoulder pattern visible in the Banknifty chart which is considered technically bullish.

3) Global cues to be watched, to understand whether temporary correction in the Bank Nifty.




DISCLAIMER:

Above article is only for educational purpose, we are not recommending to buy or sell any stock or index. Please consult your financial advisors before taking any trade.

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