Starting a new thread #Nifty vs #Banknifty

Both the indices ended its correction on 23th March 2020 which started in Jan 2020. Post the correction in pullback phase from starting itself Nifty was showing more momentum in comparison to Banknifty.

At current stage #Nifty has retraced almost 61.80 % of its entire correction, #Banknifty has retraced only upto 38.20 % of its correction. Nifty also seems to be near major supply zone plus it also has a rising wedge formation which is not yet broken.

On the other hand #Banknifty is also near resistance zone but it seems it does some steam left on the upside only & only we see upside momentum picking up in next few weeks.

Motive of this thread was only to share the current state of trend with all the traders.