Nifty Bank Index
Short

Bank nifty analysis

184
On daily charts, we can see major trendline breakdown, neckline of M pattern broken and 200 DEMA(43267) is also broken. The overall sentiment of BNF is bearish and there is death crossover of 20 DEMA crossing 50 & 100 DEMA from above. On 15 min chart, we can see inside candle bar towards closing.

Strategy for tomorrow based on 15 min chart :-
If it goes below 43000, then we can short and our target should be S1= 42600 , then S2 = 41865.
If it crosses high of mother candle with proper price formation, then we can take call and target should be R1 = 43550, followed by R2 = 44200 (20 DEMA). However, once we reach R1 , we should go for sell on rise since , market sentiment is bearish provided we get clear price rejection from R1.


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