did made some attempt to pullback, the same was absent on BankNifty
. The movement on the index was weaker than that of nifty
and a clear divergence was noticed. Disparity among these two index espically Banknifty
lagging is not a sign of strength. While the RSI
is into bearish
zone below 20 the macd
histogram is soaring red, indicating sellers are in no mood to stay back. Below 18650 the index may further slip to 13200 levels. However to prove itself strong the stock has to pull above 21900 the index may pull up to 24500 & 28000 levels.