The Bank Nifty is currently under trading zone or going through time correction after a long rally. It broke a uptrend line and failed pullback test. If the above mentioned Demand Zone is broken and succeeds to resist Bank Nifty to go above it, then short Bank Nifty.
Profit booking can be done in the Buying Zone for short positions or longs can take a fresh position in that zone.
Profit booking can be done in the Buying Zone for short positions or longs can take a fresh position in that zone.
Trade closed: target reached:
Congratulations to those who have followed this idea wednesday. Perfectly gone through the pullback test and confirmed the fall. :)