As RBI is facing tremendous pressure to bail out PS/Corporate banks I believe that we will slowly begin to see a short term correction in the bank sector. I expected BOB to either break out and test at 190 before potentially making another leg up. The second scenario is that the sentiment forces BOB to test at 100-120 before it continues to test the . This is big short term reversal point for BANKNIFTY . RR at this level is high.
Comment: ** to test demand zone at Rs. 100-120
Trade active: Consolidating into a very tight range, potential for breakout increasing day by day
Trade active: Breakout. First TP 160, second tp 185
Trade closed manually: Trade closed @ 147 for 10% profit from 136. Looking for re-entry at around 133 - 140 range. There is a considerable amt of resistance at 150 range right now