Bank Nifty continued weakness, clarifications by heads of certain banks / financial institutions could not assert overall fall.
It has corrected almost 2400 points from the peak it made on 23rd Sep. Though there is no indication of a pause or reversal on charts, I would like to take a break.
I'll just observe Friday's market move and on the basis of tomorrow's closing, decide course of action of Monday.
One can hold shorts till there are signs of recovery or pause or book profit and wait for direction.
28765 can be the stop for all short positions, and long positions should be taken only if it breaches above 29256, based on Fib. levels and tops of previous days' candles.
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It has corrected almost 2400 points from the peak it made on 23rd Sep. Though there is no indication of a pause or reversal on charts, I would like to take a break.
I'll just observe Friday's market move and on the basis of tomorrow's closing, decide course of action of Monday.
One can hold shorts till there are signs of recovery or pause or book profit and wait for direction.
28765 can be the stop for all short positions, and long positions should be taken only if it breaches above 29256, based on Fib. levels and tops of previous days' candles.
Please consider liking this post / idea, share your opinion via. posts, you may also FOLLOW me on this forum for periodic updates on Nifty, Bank Nifty, Silver or Gold.