Banknifty broken the channel, finally

Weekly analysis: Let see what may happen in the next week of 06-September 2021 to 09-September, ot has only 4 trading days.

 As Banknifty (an NSE index for top 12 banks), has broken its bounded movement in a parallel channel and closed above 36500 levels and consolidating for a while. But a rejection is seen at the levels of 37000-37100 levels (may be waiting for some news to break it). If it breaks 37000-37100 (upwards) levels then we will see fast movement of 1000-1200 points or more till 1500 points.

But if it breaks the 36500 levels, downwards then panic selling will be started below 36000 levels which will bring down the Banknifty to 34500-34000 levels in this week or this month. But if it holds the fort above 36500 levels and consolidate and move towards 37000 levels, slowly, then you can buy Call, blindly for the fastest movement of the Banknifty.