PowerTrades

Banknifty Potential turn around point- trade idea

Short
NSE:BANKNIFTY   Nifty Bank Index
Long time since I posted something, Folks who had seen the past analysis would recall that we had marked 25600 as the support zones, banknifty turned around from there. On the upside 26450-26500 remain as the big hurdle.This is with the hypothesis that markets have had made top for the year and will continue to form lower highs. Hence if we see retracement zones , this provide an low risk short idea with stops above 26500 levels and a potential to test the levels of 25600 and 25200 in coming weeks.

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