Profit booking is taking place from over bought condition.
second wave of corona virus and weak global cues leading to sell off.
it does not look like expiry related selloff.
On close observance it seems to be well with in two lines of pitch fork.
now this rally is not over. It is only retracement not reversal of this bull run.
one more leg of upside expected after it is cooled of from over bought condition.
Arrow mark in the chart pointing to the area Bank nifty may fall if sell off continues.
tomorrow's movement crucial for detecting its trend
recent high so soon. it will but will take time. sbi has formed lower high and lower low . Braking out of today's high is essential for its breakout in the upside.
same is the case of bank nifty.