#Banknifty directions and levels for FEB 16th
#Banknifty
For BankNifty, there seems to be a similar sentiment where it's in the 5th wave of a diagonal structure. If it rejects around the immediate resistance level (78), there's an expectation of a correction, with a minimum retracement of 23 to 38%.
However, if the gap-up sustains or breaks the immediate resistance, then the rally is likely to continue.
For BankNifty, there seems to be a similar sentiment where it's in the 5th wave of a diagonal structure. If it rejects around the immediate resistance level (78), there's an expectation of a correction, with a minimum retracement of 23 to 38%.
However, if the gap-up sustains or breaks the immediate resistance, then the rally is likely to continue.