BANKNIFTY update: Since the news, this market has gone from a low of 24356 to a high of 2702. Which serves as just another example of how sentiment drives price on the short term. Although a 12% move off the low is encouraging, this market has not demonstrated any real change in the momentum on the bigger picture. Yet.
wait for swing trade
True selling does not hold range supports, it breaks them. This market went from the 24000 area to 27000 in a matter of DAYS and has simply stopped. While slowly making its way back into the middle of the range. If it is not weak, then it should be strong, right?
Our swing trade long was stopped out in the low 26400 area, and even though our outlook is still...