Contra bet in this bulllish Market.
Banknifty chart seems to have topped at 37700. Since then, It has been printing Lower highs with base of 34500 - 35000.
Index must break the lower high formation to turn bullish again Or Break the base of 35000
Index may test Previous All time high of 33000 which also happens to be 61% retracement of the whole 30000 to 37700 move as per fibonacci retracement tool.
Banknifty chart seems to have topped at 37700. Since then, It has been printing Lower highs with base of 34500 - 35000.
Index must break the lower high formation to turn bullish again Or Break the base of 35000
Index may test Previous All time high of 33000 which also happens to be 61% retracement of the whole 30000 to 37700 move as per fibonacci retracement tool.
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