After a huge rally that stretched for more than a month, looks like Banknifty has formed a top today.
I can see a Bearish Engulfing candle with a Negative Divergence on Daily chart.
Good opportunity to short here for a target around 27300 levels with a small top loss.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment...
There is a possibility to trade Broadening top pattern. RSI is forming divergence also confirming weakness in the stock. Shorting now with Stop Loss just above the high made recently.