@patel27, first I don’t like banks and bank stocks, don’t even trade them, I normally celebrate when a bank stock tanks. RBI has already announced a rate cut ( when gdp growth rate is 7%+ ) and more will be coming ( watch for what fed does ) depending upon if US markets sees any type of correction. This entire ponzi will blow Pretty soon, just like housing blew earlier in India. Yeah but for the time being we can play this game on long side of the things.
Yes , You have intuition ability , it will not repeat the same way , but almost it will be the same , Market never repeats 100 % the same pattern but it has similarity in its structure , those similarity are almost visible to 90 % accuracy , but people at large do not understand this and try to interpret based on their own understandings ,
@I-Fund-Trader, i thought so because of 3 reason
1)it is near all time high, critical level
2)weekly strong trandline which is started at (feb 2016)
3)it is over stretched , i mean it is rare to see such weekly candles which low is previous candles high and both looks like almost marubozu