Bank Nifty : Wait till a confirmation presents itself

Bank Nifty made a new intra day low in the final few minutes of close which does not spell great news for the bulls. It is about 150-200 points from testing the January '19 low of 26441 and December '18 low of 26408. One should await this move and see the behavior at the levels and wait for a confirmation in either direction.

With the present scenario it is advised that one stays cautious and takes very moderate trades.

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