Bank Nifty could not hold breakout upward

16 nov 2016

Bank Nifty after breaking up trend turned bearish and fired breakout up ward but could not hold the upward and again turned into bearish and closed within the channel, we may see further down trend with a target of 18400.00 in near term. the three black crows are there to confirm further down trend. risky traders may enter short at CMP conservative traders may wait to retest the resistance 19388.00 and enter short. also be cautious if again upwaard breakout occurs exit with small stop loss.