Bank Nifty Analysis: 25-05-2023
BN has broken the triangle downside as expected. Also, I said that the daily chart of BN closed yesterday with very nearer to major support.
Further, we discussed that if the BN breaks the triangle downside, then the first support will be 43548. It happened today exactly at that point and hence moved towards ema 50. Still, BN is under the control of ema 50. Suppose BN obeys the ema 50 by tomorrow (26-05-2023) then it will get down to the 43185 level (or) it breaks the trendlines (dotted) then it will move up to the 43880 level.
BN has broken the triangle downside as expected. Also, I said that the daily chart of BN closed yesterday with very nearer to major support.
Further, we discussed that if the BN breaks the triangle downside, then the first support will be 43548. It happened today exactly at that point and hence moved towards ema 50. Still, BN is under the control of ema 50. Suppose BN obeys the ema 50 by tomorrow (26-05-2023) then it will get down to the 43185 level (or) it breaks the trendlines (dotted) then it will move up to the 43880 level.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.