Nifty Bank IndexОбновлено BankNifty October 20
BankNifty Double Top Pattern Predicts Bearish Reversal
As expected, BankNifty opened with a slight gap down on October 19, 2023, following the double top pattern on the daily chart. The price tested the neckline support region, leading to a buy-sell war between bulls and bears.
Today's chart has formed another double top pattern on the 15-minute time frame, which further strengthens the bearish reversal prediction. The 2-hour chart also signals a bearish trend.
If the fundamentals and market sentiments align with the technical analysis, we can expect a bearish trend to continue in BankNifty.
#BankNifty
As expected, BankNifty opened with a slight gap down on October 19, 2023, following the double top pattern on the daily chart. The price tested the neckline support region, leading to a buy-sell war between bulls and bears.
Today's chart has formed another double top pattern on the 15-minute time frame, which further strengthens the bearish reversal prediction. The 2-hour chart also signals a bearish trend.
If the fundamentals and market sentiments align with the technical analysis, we can expect a bearish trend to continue in BankNifty.
#BankNifty
Сделка активна
Market is going as expected
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Отказ от ответственности
Все виды контента, которые вы можете увидеть на TradingView, не являются финансовыми, инвестиционными, торговыми или любыми другими рекомендациями. Мы не предоставляем советы по покупке и продаже активов. Подробнее — в Условиях использования TradingView.