Bank Nifty has formed bearish candlestick pattern in daily time frame.
Shooting star was formed on the new high of Bank Nifty Yesterday, Bank Nifty has formed Bearish Engulfing with Shooting star are another bearish candle which is strongly bearish than the first one.
It is important to note that Trend is bullish so we can expect some profit booking at this level.
Some sort of weakness we can see after the break of previous low and expect a further downside to 500 - 700 points in this week.