BANKNIFTY slips below 20 dma.
and now below the 20 dma.
it may retrace to 23.6 percent of the
this leg of the rally which is at 42785.
incase ofurther decline it may touch the 38.6 percent of this rally which is at 41925
which is at at the lower line of the diogonal.(black line)
Breaking below the diogonal line we can see further sell off.
Now the real strength of Indian market being decoupled from world market likely
to be tested.Most brokerages have upgraded many stocks of banking index,
Bank nity is the most outtanding index in the world.
I think at some level it will bounce and again outperfor all the indices.
Please go through the attached charts of which I had published earlier.
I think if tomorrow if world market opens positive then there will be initial bounce in
bank nifty to 43680 to 43720.
it may retrace to 23.6 percent of the
this leg of the rally which is at 42785.
incase ofurther decline it may touch the 38.6 percent of this rally which is at 41925
which is at at the lower line of the diogonal.(black line)
Breaking below the diogonal line we can see further sell off.
Now the real strength of Indian market being decoupled from world market likely
to be tested.Most brokerages have upgraded many stocks of banking index,
Bank nity is the most outtanding index in the world.
I think at some level it will bounce and again outperfor all the indices.
Please go through the attached charts of which I had published earlier.
I think if tomorrow if world market opens positive then there will be initial bounce in
bank nifty to 43680 to 43720.
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