Bank Nifty has become a wild beast off late and the news based up move and down move is not really healthy.
Earning has to match the investments. Bank nifty had a dream bull run with not much correction this year.
Looking at Monthly chart bank nifty is at critical point.
Going by the history whenever RSI was around 75 BN had a healthy correction to the tune of 6000 points.
Currently BN is at similar situation. It is time to be cautious or place safe bets on BN.
Earning has to match the investments. Bank nifty had a dream bull run with not much correction this year.
Looking at Monthly chart bank nifty is at critical point.
Going by the history whenever RSI was around 75 BN had a healthy correction to the tune of 6000 points.
Currently BN is at similar situation. It is time to be cautious or place safe bets on BN.