NIFTYBANK - STRESSFUL BANK

Nifty bank bulls continue to erode the support. Close below 37800 is clear sign, market looking towards next crucial support around 36800. This is possible as long as we hold the 38200 on close basis. What has been a strong place, turns weaker. Along with Index bank nifty move has remained correlation of 1. This suggests there wont be a stand alone moves here and would move in synchrony. For the day larger range of 36800-37900 with 200 point stop is the ideal way. With Volatility and liquidity holding hostage, important to keep the size manageable.