Description
⋅ Bank nifty today, corrected to 23.8% fibo level - As mentioned in that chart
This shows the strength in the index and the willingness of the bulls to buy all the dips.
Even though it fell today but it did not sustain at those levels.
Bank Nifty index is moving in the channel and the upper band of the channel comes around 32000-32200 ( depending as soon/late it touches)
It will be interesting to see what it will do @32000.
At this point of time, the best strategy is to go long.
To seek a short side position, wait for a daily closing below the channel which is around 30900 and trailing