15 May 2024 - Banknifty in neutral territory, break 47465 for 🐻
BankNifty Analysis — Stance Neutral ➡️
BN ended the day with cuts of -172pts ~ -0.36%. We went neutral after the price action on 13th May. After that, we had one up day (14th) and a down day (15th) — the result, we are back in the neutral territory.
BN did not even go to the 48115 levels which came as a surprise. Ideally, on 16th there may be an attempt to take out 48115 resistance, only then the Bulls can exert their dominance. If it stays like this, we get another lower low formation and it would mean the Bears will come back much stronger. Only if 47465 is broken, we will change our stance from neutral to bearish.
The algos made a super profit of 45596 INR today.
BN ended the day with cuts of -172pts ~ -0.36%. We went neutral after the price action on 13th May. After that, we had one up day (14th) and a down day (15th) — the result, we are back in the neutral territory.
BN did not even go to the 48115 levels which came as a surprise. Ideally, on 16th there may be an attempt to take out 48115 resistance, only then the Bulls can exert their dominance. If it stays like this, we get another lower low formation and it would mean the Bears will come back much stronger. Only if 47465 is broken, we will change our stance from neutral to bearish.
The algos made a super profit of 45596 INR today.
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