Bank Nifty opened Gap up and reached high of 18966.
This is Daily chart of Bank Nifty. The Index is facing resistance at Upper line of Blue channel. The Index is out of upper BB. Normally prices do not remain out of BB and hence correction is very likely. Also Today's candle formed Doji. A doji candle at bottom or top of the trend is indicator of possible reversal of trend. A doji above Upper BB is indicator of strong possibility of reversal of trend or correction.
In 15 min chart, we can see index sharply corrected from 18966 to 18805. This may be minor wave a or i of corrective wave. It looks like wave b/ii is completed at 18926. Wave c/iii may be in progress and target for wave c/iii is 18700/18650.
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