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Nifty and BankNifty both are falling for the past 3+ days and now the chances of consolidation and profit-taking have risen. The red volume on the downside has been continuously increasing showing the participation in the downside. Please trade very cautiously with SL at all times at these levels as there can some big moves on either direction and you won't want to get stuck in them on the reverse side.
The overall market view will remain bearish until there is some sign of an uptrend. Till then keep shorting bounces.
Please note: These are my views and not trading advice. Please consult your financial adviser before making any trading decision.
Let you SL hit! It's ok! You just got saved from a bigger loss!