BankNifty 25Jul2019 Expiry View

TradersVenue Updated   
BankNifty seen major sell off in last day of the previous week wiping out 660 points in intraday. On daily scale it has formed double top kind of pattern and has given breakout below its neckline of 30223. Theoretically it can test 28525 which is height of "M" and 100% retracement of the pre-election rally. Due to the heavy correction it might see a pullback relief rally. But that should be used as an opportunity to create fresh shorts for an eventual target of 29250/28500j #SellOnRise
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Made low of 28888. Nearly 1000 point gain.

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