Bank nifty ready for a roll

BNF is a very critical juncture, either it's going to break out or break down very soon.
The yellow arrow (up & down) points to the potential short term targets.

Key points:
1. overall sentiment is neutral to negative. Breaking the green line might move into bear region
2. staying at current band and above trend line will be bullish
3. Keeping hedge and doing unidirectional trade can reap in profits mostly.

I will look for long opportunities for a mid-long term. for short term bets will rely on indicators

Comment:

breakout has happened. closing long positions around 47500+.
The pattern on individual banks seems to be turning negative. The institutions have heavily shorted the market while the retail folks are strongly bullish. Being cautious, booking profits, looking to short from now.