NIFTY;BANK view

NIFTY;BANK; has surprised many with its recent decline.
We shared our view here on 23rd,AUGUST explaining things in details on why the overlap of 44,151 is critical in overall CYCLE analysis.
That overlap confirmed the TOP which never got printed again.
Very unlikely that it gets there in next 6 months.
The rally in SEPTEMBER made things quiet complicated,
but once that ended it made things clearly BEARISH.
Technically the rejection from highs resulted into a double TOP breakdown here.
No CHARTIST can deny that.
PATTERN targets are huge let’s not discuss that.
43,500 was a strong support here now when that’s broken next major support on downside would come in zone of 41,000-41,500 on spot.
Once 41,000 breaks on closing basis next level to watch would be MARCH 2023 low of 38,613,
no major supports in between.
For now INDX needs a pause and some bounce.
Once its done next move down would test levels closer to 41,000.