BankNifty is Looking to move towards 16500 now, there are three reasons mainly.... 1- Banknifty is trying to Form a Channel. 2- It is trying to move in a (W) Formation Contantly with 1.41 extensions as targets. 3- It is trying to Fill every gap one by one (show with numbers on the chart)
Short Positions can be taken for the targets of 17000, 16500 with an SL above 19500... Ii am still very bearish for Indian Markets