Recap:
As mentioned yesterday's analysis Bank nifty started with fake break out after firing 2 strong bullish candle on 15min & then a sudden dip trapped many players. But still strong support 46900 helped saved bulls to reach again for a breakout but failed & BN closed at support 46900.
Analysis for Next Day:
Bears have started dominating as seen today bulls...
Shorting Nifty Now ?? That too in this Bull market ??? Yeah... If they get aligned and validate My rules I have no hesitation to short the Nifty. I'm looking at few rules I have,
(i) Fib level reversal ( Yes) Golden Ration 61.8% in Resistance zone
(ii) Resistance zone - Yes
(iii) Fib extension confirmation - Yes
Waiting for Bearish price action confirmation to...