This is a revision of my prv BANKNIFTY chart "tradingview.com/chart/BANKNIFTY/Qr1NFlnT-Bank-Nifty-Oversold/". I explicitly stated "Oversold" as I viewed the retrace that I had called till 16k as just a retrace and not any strong sign of resurgence in the banking sector. The channel has proved to be strong. 1st Tp 13.2k 2nd Tp 12.3k.
Operación activa
Market came back to channel in 15800 zones on Rajan's Speech. He cut interest rates which I expect will cause other indexes to rally in coming days. However this also occured :" In another surprise move, the RBI raised the reverse repo - or the rates lenders charge to the central bank - by 25 basis points to 6 per cent, while taking measures to ensure more availability of cash in the banking system." I think that this may test 17000 as I've displayed as the second scenario in my chart which I didn't really expect to occur but now I see as more likely. Possibly v good buy zone for intraweek high exposure long
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Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.