BANKNIFTY for 16th January

That Banknifty is weaker of the two indices was once again proved today when Nifty retraced its entire fall in second half but BNF just could go only half-way. Indusind Bank extended its yesterday’s fall by more than 5% and SBI too was among top 5 losers in Nifty stocks. So BNF did pay its price. So clearly, look at shorting BNF but going long for Nifty. Please check my video posted on youtube under channel name Market Movers India for slightly more analytical content. Tomorrow, we are most likely to open gap up due to trade agreement signing between US and China. As of now DJIA is already 140 points up. I have given my buy levels on Nifty in my post on Nifty and the sell levels for Banknifty are marked on attached 15 min chart.
All the best. Happy trading.

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