Technical chart of Bank Nifty suggests wait and watch strategy by closing the candle at one day above and below the daily time limit, which is enough to understand the behavior of the market instead of aggressively trade.
Currently bank nifty having raising wedge and pennant pattern, once break Short sell will be activated and target will be nearest support 26800-26100.It is due to upcoming market sentiments, if sentiments are good, then bank nifty will recover from support level to max 27500-28200 level, then sharp down will be possible otherwise take support at 24000-23800
Indices and stocks having more volatility that the reason more chances go down so sell on rise with strict stop loss.
Resistance levels are:
27117 27386 27594 27803 28101 28480
Support Levels are:
26957 26869 26550 26462 26302 26033
Upcoming levels and scenario will update as per market
Stock market is subject to market risk. This analysis is education purpose only. Its opinion, buy-sell it’s your choice.