Bank nifty has made a top of 12975 two months ago & is moving downwards since then. It has broken a very important support of 12300 it tried to retrace back but the upward move was not sustainable. Presently the market is at 11320, hence the question arises how far is the downward trend going to last?
Since the market has broken a crucial level of 11488 there is a strong possibility that market will touch the level of 11202. Investors who are still holding their positions can wait a little more & watch the market action very carefully at this level, traders who have already grabbed an opportunity to short the market at higher levels can partially book their profits.
Since the market has broken a crucial level of 11488 there is a strong possibility that market will touch the level of 11202. Investors who are still holding their positions can wait a little more & watch the market action very carefully at this level, traders who have already grabbed an opportunity to short the market at higher levels can partially book their profits.
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