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neelimapitroda

With the news of RBI Policy and rate cut factored in!!!

Short
Nifty Bank Index (NSE:BANKNIFTY)  
neelimapitroda Updated   
NSE:BANKNIFTY   Nifty Bank Index
Trend Analysis Chart Patterns Technical Indicators
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trendanalysis chartpattern indicator
Studying Bank Nifty charts on multiple time frames, We can see bank nifty make or break outside the trading range formed today. There is strong resistance which has been rejected 5 times and has never given a close above it. Expiry play should be interesting with Nifty Bank trying to again to cross the resistance (31720) and if rejected should see the very rapid down move as it is already at overbought levels. Should wait for friday's close to confirm Bank Nifty has made its top.
Trade active
Comment:
Bank nifty is a sell on every rise till it reached it downside target of 30350!!!
Trade closed manually:
Book profits and wait for bearish flag on charts
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