Banknifty – At a crucial level !!

Today’s closing of Banknifty NSE:BANKNIFTY has been just below the resistance at around 26150 levels.

Staying above this level might lead to further uptrend.

A break below 26000 may trigger a massive downfall.

However, the rally has been going on for more than a month now and Private banks like Kotak and IndusInd have started showing signs of exhaustion.

Today Banknifty has also formed a Dragonfly doji at the top.

Will look for Shorting opportunities below 26000 levels with a small stop loss.

Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice.
Please consult your Financial Adviser for any investments.

Comment: Filled the Gap left during previous fall on Feb 5 and rally before that on Jan 18.
Looks like it is waiting for election results to decide further move from here.


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