Normally, we all have opinion that prices will reverse at 61.8% fib ratio ( that's why its called Golden ratio). Put that in combo with resistance zone
, the probablity of getting good trade increases. Thats what we have here in BankNifty
, with price around 18900's and resistance zone
in same area, I expect the market to reverse here. We do had similar kind of setup in Nifty
also, but that was risky setup which is posted earlier. Just to point out RSI
is overbought but that won't be sole reason for Banknifty
to reverse from here.
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