Banknifty is taking a fall after a good uptrend.
This fall is not surprising as it can be a profit booking after it made a new high.
I am still on the bullish side and the probable reversal zone is marked. I will be entering there with the stop loss marked.
If the trend starts reversing from the zone then it will make another high till a new correction is followed.
Elseif the stop loss line is broken then our theory will become invalid and Banknifty will start moving into the downtrend zone which is very unlikely as of now.
If any further observation will post you all.
Stay safe and trade safely.
Note: The above is strictly my view and not a trade recommendation. Consult your financial advisor before making any trade.
This fall is not surprising as it can be a profit booking after it made a new high.
I am still on the bullish side and the probable reversal zone is marked. I will be entering there with the stop loss marked.
If the trend starts reversing from the zone then it will make another high till a new correction is followed.
Elseif the stop loss line is broken then our theory will become invalid and Banknifty will start moving into the downtrend zone which is very unlikely as of now.
If any further observation will post you all.
Stay safe and trade safely.
Note: The above is strictly my view and not a trade recommendation. Consult your financial advisor before making any trade.
