>>> Click the Chart to see in full screen <<<
Nifty touched the important Suport of 5190, almost ready to enter the Gap left between 5160-5190. If there is a gap down tomorrow below 5160 it can be an Island Reversal which may be a confirmation of Bearish Reversal unless the Gap left is filled in short span of time.
See the Below Example of How Nifty will behave in case of a Gap down as Island Reversal
>>>Bank Nifty<<<
>>> Click the Chart to see in full screen <<<
As I wrote on Friday Bank Nifty gave a Bearish Break down - It seems Bank Nifty has completed Sw(b) or sw(2) and may fall below the trend line as marked on chart for sw(3) or (c).
A fall is confirmed Once the Trend line gets broken as on chart.
>>>Weekly Bank Nifty<<<
Attached is the Weekly Bank Nifty Chart. A Grave Stone Doji formed on the Upper Bank of the BB is a Sell Signal and so a fall can not be Ignored from current level.
Cheers!!!
