Today’s closing of Banknifty
BANKNIFTY
has been just below the resistance at around 26150 levels.
Staying above this level might lead to further uptrend.
A break below 26000 may trigger a massive downfall.
However, the rally has been going on for more than a month now and Private banks like Kotak and IndusInd have started showing signs of exhaustion.
Today Banknifty has also formed a Dragonfly doji at the top.
Will look for Shorting opportunities below 26000 levels with a small stop loss.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice.
Please consult your Financial Adviser for any investments.
BANKNIFTY
has been just below the resistance at around 26150 levels. Staying above this level might lead to further uptrend.
A break below 26000 may trigger a massive downfall.
However, the rally has been going on for more than a month now and Private banks like Kotak and IndusInd have started showing signs of exhaustion.
Today Banknifty has also formed a Dragonfly doji at the top.
Will look for Shorting opportunities below 26000 levels with a small stop loss.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice.
Please consult your Financial Adviser for any investments.
Looks like it is waiting for election results to decide further move from here.