BANK NIFTY seems to now be in overbought zone.
Price is struggling to form new High and today morning there was a big sell off.
There is also a H&S pattern formation visible on the 15 chart.
Basis these, I have taken a short position for a Target to the 200 MA of the 15 min.
This is a Mean Reversion trade as I feel that the BN is overstretched and a snap back is imminent.
Price is struggling to form new High and today morning there was a big sell off.
There is also a H&S pattern formation visible on the 15 chart.
Basis these, I have taken a short position for a Target to the 200 MA of the 15 min.
This is a Mean Reversion trade as I feel that the BN is overstretched and a snap back is imminent.
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