Is Nifty Bank going to Crash? Nifty Bank Chart Analysis

From the last 20 days Nifty Bank is underperforming and continuously breaking all support areas. Last closing of Nifty bank on 22031 levels which an important support area and highly possible reversal point. But the important thing is whether it will sustain here or not.

As per the chart analysis, we named 22000 levels as a possible reversal area. If somehow this area breaks and nifty bank tries to go down again and it will be difficult for the nifty bank to retrace this fall easily and it will go to the next final support zone that is approx 21000. Below this level market will enter into the danger zone but up to now the possibility of the danger zone is very less. You have to read the chart given above where important levels and zone are marked for your reference.

 

 

Disclaimer: This Chart Study is based on the theory of technical analysis and personal observations. This does not claim for Profit & Loss. 
We are not responsible for any profit or losses made by traders and investors. It is only the outlook of the market with reference to its previous performance. 
All information is a point of view and is for educational and informational use only. All Judicial you are advised to take your position with your sense and judgment.