BANK NIFTY WEEKLY CHART STUDY
As we mentioning from past few weeks that bank nifty important initial support level is 14700 and after election result bank nifty has taken support on same level every time and given bounce.
As per the chart development we can see that there is a development of “DRAGONFLY DOJI” and then “MORNING STAR” pattern in last week and now its try to develop “RISING THREE” pattern on chart.
Even the rsi situation is as same as nifty which I mention above.
So basic understanding is market trading on crucial level so this level will be the key for every trader, it might fall or it might rise but taking proper position near to this level as per direction can prove you the best trader or decision maker at this point.
For bank nifty weekly levels are support at 14700-14400 below this more we can see till 14200-13800 also, but if good reversal signal at 14700 can give up move till 15100-15350-15700 also.