Ahead of RBi meeting from 6th to 8 th june
Bank nifty likely to be volatile or consolidate.
At present it has retraced 50 percent of cd wave.
and it is not necessry always it should always go to the upper ternd line exactly.
It has faced re4sistance at an important level on Friday ,Hence Friday's high is important.
It may consolidate for two days or if breaks the lower trend line may go down ward.
The above chart is in weekly time frame.
Biased is negative but to protect any surprises (which seems to be not likely)
Any short position shoud be hedged with 37500 ce or 38000 ce.
I had stopped writing here for some days due to some reasons ,
But I found people love my posts despite of my not writing here.
Don't forget to like my post ,follow me to get updates.
Please go through my last series of posts of reliance and others.
Bank nifty likely to be volatile or consolidate.
At present it has retraced 50 percent of cd wave.
and it is not necessry always it should always go to the upper ternd line exactly.
It has faced re4sistance at an important level on Friday ,Hence Friday's high is important.
It may consolidate for two days or if breaks the lower trend line may go down ward.
The above chart is in weekly time frame.
Biased is negative but to protect any surprises (which seems to be not likely)
Any short position shoud be hedged with 37500 ce or 38000 ce.
I had stopped writing here for some days due to some reasons ,
But I found people love my posts despite of my not writing here.
Don't forget to like my post ,follow me to get updates.
Please go through my last series of posts of reliance and others.
