The BANKNIFTY trend is showing weakness and for the last few days there has been lot of turmoil in the Markets
Most of the days of this week the first three hourly candle of Indices would show a different story and the next three would be absolutely contrary , with an exception of 1 day
If you have a look at the attached chart , hourly setup of BNF it clearly shows a downtrend on the charts and continues to do so.
I see a stiff resistance at 22600 / 22700 levels and the next upward move would only come if these resistance levels are breached on closing basis with significant volumes and seconded by a supporting candle in the same direction.
Most of the days of this week the first three hourly candle of Indices would show a different story and the next three would be absolutely contrary , with an exception of 1 day
If you have a look at the attached chart , hourly setup of BNF it clearly shows a downtrend on the charts and continues to do so.
I see a stiff resistance at 22600 / 22700 levels and the next upward move would only come if these resistance levels are breached on closing basis with significant volumes and seconded by a supporting candle in the same direction.