Double Top in Nifty & BankNifty
It may sound too bearish but I am showing the possibilities.The text book definition of Double Top is : Two well defined peaks, narrow, pointed, and separated in time but near the same price. Breakout is downward. Nifty and BankNifty is in similar setup. Long term investment is advisable if Nifty close above 6000 in weekly chart. Double top will be confirm if Nifty close below 4625 and BankNifty close below 7969. Months of May, Jun, July, Aug and Sep are always crucial and fundamentals are supportive.
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