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#Banknifty directions and levels for FEB 16th

Nifty Bank Index (NSE:BANKNIFTY)  
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NSE:BANKNIFTY   Nifty Bank Index
Harmonic Patterns Chart Patterns Elliott Wave BANKNIFTY bankniftytradesetup bankniftyanalysis bankniftyview bankniftylevels bankniftyintradaylevels bankniftyintraday bankniftytomorrow bankniftyintradaysetpup
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harmonicpatterns chartpattern elliottwaves banknifty bankniftytradesetup bankniftyanalysis bankniftyview bankniftylevels bankniftyintradaylevels bankniftyintraday bankniftytomorrow bankniftyintradaysetpup
#Banknifty
For BankNifty, there seems to be a similar sentiment where it's in the 5th wave of a diagonal structure. If it rejects around the immediate resistance level (78), there's an expectation of a correction, with a minimum retracement of 23 to 38%.

However, if the gap-up sustains or breaks the immediate resistance, then the rally is likely to continue.
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