BANKNIFTY for 1st January 2020

That banknifty and Nifty are looking to fall was clear yesterday, but I couldn't comprehend that the fall would be so severe that it would demolish 12200 so easily. As I wrote in my post on NIfty , Nifty formed an evening star pattern and now hence looks like it will start going down bit by bit. Banknifty has not formed any such pattern but finished as a strong red candle. So what I said yesterday in my video post on youtube under channel name Market Movers India, which I post everyday, is turning out to be true. Though in last one hour or so, Nifty's fall was more pronounced and BNF was trying to recover. On 15 min chart, I have marked a selling area whose levels coincide with Nifty . So take 'Sell banknifty' trade when Nifty too approaches its selling area.
All the best. Happy trading.

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