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BANNIFTY DEMAND AND SUPPLY ZONE

BANNIFTY DEMAND AND SUPPLY ZONE

The structure and price-action of bank nifty look weak both on the weekly and daily chart .

Hence it is likely that the weakness may continue further in the coming week.

Weekly Candle - Big Bear Candle ( Range approx 6%)

Daily Candle - Big Bear Candle ( Range approx 2.88%)

Since there is a huge sell-off in a very short time span, which opens up a probability of a sharp bounce in the prices, however, the overall structure is weak, hence it may be utilized as an opportunity for further selling in the index.

Keep an eye on price action near important supply and demand zones, and plan your trades accordingly.

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