A week a candle:
Nifty bank has to give a break out above 38100 level and sustain for further up move after clearing the level of 38400, otherwise we can see the levels of 35000-36000 in short term depending on the Q2FY22 results. First, HDFC Bank is declaring its result on 16-10-2021 (Saturday). Therefore, before 16-10-2021, Nifty bank has to sustain above 38100 and if above 38400, then it will be awesome to pick the GRAND move of this year. According to me, Nifty bank will consolidate between 38000 and 37300/37000 in the coming week.
A day a candle:
Look for the zig-zag of the Nifty Bank and it is sustaining above 37700 levels means it is mild bullish, if above 38100 then it will be strongly bullish to achieve 39000 levels in a day, but below 37300, it will be mild bearish and if breaks 37000 then strong bearish; selling pressure can be seen. According to me, Nifty bank will consolidate between 38000 and 37300/37000 in the coming week.
Another view: A day a candle:
A candle an hour:
