InsiderB

Winter is Coming & Bears are here to Stay !

Short
InsiderB Updated   
NSE:BANKNIFTY   NIFTY BANK
Acrophobia - Fear of Heights and a fall from the highest level can be dreadful. That's what we are looking in BankNifty , though Nifty & Gold has fallen a bit, here we are still at 20k's at the top almost forming a Double top . Whether this Double top will fail or work - we are unsure about that. This post is insync with our recent post about Nifty & Gold , remember they also show bearish signs.

This 5-wave will get truncated, thats why the double top signal is slowly forming on weekly chart ? If that happens we can see 6000 points move to the south, hugging & roaring with bears. This isn't exact trade setup, its our analysis based on the technical tools we have & how the global outlook is. Has anyone checked on US Bank Index, its up almost 20% in last 3 months, Yeah you read it right 3 months. When was the last time US bank index where at current levels - 2008 , before the recession time & big fall.

With Trump victory all are suggesting its good for US Banks & Pharma , but when you have 20% rise without any correction isn't something real fishy ? I can explain why the rise & what's fishy but it will take more lengthier post, so lets keep it crisp. Trump is good for US corporates only & its nativism, not good for US or world economy. We can't comment on his nativism but his economic/tax policies aren't good. So, the US economy & Markets also waiting for the fall.

In 2015, BankNifty fell down 7000 points & in 2016 we rose up 7000 points, A whooping 14000 points movement. With this double top , another 7k points down ? Crazy thought..but we will love that if history repeats itself. In DJIA also bearish harmonic pattern ( courtesy : Nirav ), So where-ever we look we see bearish signs - Nifty , BankNifty , Gold , US Bank Index & DJIA... We don't know whether these will go as planned or not,but All I can see - " Winter is Coming & Bears are here to Stay ! "

If you find any other Bearish signs feel free to post it below in comments...charts also welcome, Lets Discuss...!

" Winter is Coming & Bears are here to Stay ! "
InsiderB
Comment:
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Comment:
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http://prnt.sc/d6z4rh

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