BANKNIFTY // At Reversal Path. ready for a strong Bear rally.
https://www.tradingview.com/chart/nY4Fdw5c/
BANKNIFTY: The daily chart shows a rising wedge pattern with a big reversal candle. This means the bears are ready to take over. There are many gaps that haven't been filled yet. This kind of rally based on news is not realistic and can hurt the new traders or investors who get tempted by the quick returns. But when the market corrects, they will lose money. So, be careful, BankNifty has turned around and we should wait for the rally to cool down before investing anything. Short term trading can be done if you have a good experience to trade in high volatile market.
BANKNIFTY: The daily chart shows a rising wedge pattern with a big reversal candle. This means the bears are ready to take over. There are many gaps that haven't been filled yet. This kind of rally based on news is not realistic and can hurt the new traders or investors who get tempted by the quick returns. But when the market corrects, they will lose money. So, be careful, BankNifty has turned around and we should wait for the rally to cool down before investing anything. Short term trading can be done if you have a good experience to trade in high volatile market.
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TradingView: tradingview.com/u/Stox_Ware/
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