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Banknifty - which way will it go?
Chart pattern (example) for the bullish view:
S&P500 also had a massive fall from 1210+ to 1010 from April 2010 to July but subsequently it made a smart recovery against all odds/sentiments climbing the proverbial wall of worry.
Chart pattern that supports bearish view:
US banking index made a peak in April 2010 and then tanked back to the point where it broke-out. Subsequently, it just underperformed S&P500 and just consolidated for next 7-8 months
So we'll keep watching which way Banknifty goes!
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