Bank Nifty - 31500 is acting as Strong Resistance and its being 5 days , bank nifty is unable to take out Big Red candle it formed .
Components of BNF are facing Resistance and its the PSU Banks which are showing Good move but PSUs cant take BNF above 31500.
ICICI , HDFC Bank , Kotak , Indusind , Axis are all trading below their 9 Day Exponential Moving Average.
So I expect a 1000 Point Fall in Bank Nifty in Jan Series keeping 250 Point SL.
Components of BNF are facing Resistance and its the PSU Banks which are showing Good move but PSUs cant take BNF above 31500.
ICICI , HDFC Bank , Kotak , Indusind , Axis are all trading below their 9 Day Exponential Moving Average.
So I expect a 1000 Point Fall in Bank Nifty in Jan Series keeping 250 Point SL.