BANKNIFTY has shown a V Shape move in today's trading session. Our buy level was 38300 index hit all target in buying side. We are completely in a range since last six days. Range is 39000 in Upside and 38000 in downside.
This range shift will give us a trendy move of 800-1000 points either side.
Also BANKNIFTY has formed a negative candle(Shooting Star) in daily TF.
Buying can be avoided as of now. Already discussed that Index will give a pullback when 38600 was broken.
The best and ideal trade will be short below today's low with flat opening. If we get a 15 min candle close below 38000 after shorting below 38100 then will hold tight our short position.