Bank Nifty opened 100+ points Gap Up and moved up another almost 400 points to hit day's high of 18889.
In last 2 days Index moved almost 600 points. Hourly RSI is in overbought zone(above 70). We may see correction up-to 18600 level (Upper channel line-shown in Brown color). The wave started from 17607 may take pattern of 5 wave complex triangle correction(ABCDE). Tomorrow being weekly expiry we may see some volatile movement.
Inside Pitchfork:
Inside Pitchfork is showing breakout. So further up move after some correction possible.
Inside Pitchforks with different coordinates showing resistance at median line. So possibility of correction is high. If Index breaks out above median lines then further up move till 19200 is likely.
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