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 supply zone
at 190 before potentially making another leg up. The second scenario is that the bearish
sentiment forces BOB to test demand zone
at 100-120 before it continues to test the supply zone
. This is big short term reversal point for BANKNIFTY
. RR at this level is high.