QUICKSTOX ANALYSIS - NIFTY & BANKNIFTY



NIFTY CMP 17764


Nifty formed an Head & Shoulder Pattern on daily chart, as clearly seen in the chart above, important levels to see in the upcoming trading session is that it should hold 17630-17600 at the bottom. If Nifty fails to hold this crucial level, then there could be a further downfall could be noticed.


One can also notice the trendline drawn at the bottom which acts as a strong Support. If the market opens below this trendline, then it would be a bearish sign.


Todays closing is just above 50ema support line.






BANKNIFTY CMP 37976


BANKNIFTY turned bearish after forming HEAD & SHOULDER Patter on Daily Chart. In today's Trading session Banknifty closed at the Support Level. It should hold this Support in the coming Trading Session, If It does't hold you may see further downfall which can take us to the level of 36400 level.


Lets closely watch tomorrows opening & performance.

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