Bank Nifty Futures tested an intraday high of 27425. Trading sentiment was getting into extreme which possibly indicates overbought levels.
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Price holding below 27385 is very much crucial for trend reversal to happen. Also current quick flip long trade setup is almost 6 trading days old which brings statistical mean reversion odds going by the historical backtest.
Bank Nifty Daily Futures – Trading Sentiment
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Even if price gaps up and later price started trading below 27400 levels indicates weakness towards 27180 and 27105 levels in a very short term.
Related Readings and Observations
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What could Possibly Go wrong with Bank Nifty? Here is the historical PE-Ratio of Bank Nifty. Recently there is a hockey stick growth in PE ratio of Bank Nifty. NIFTY Bank Index comprises of the most liquid and 12 large Indian Banking […] - Image may be NSFW.
Clik here to view.Bank Nifty Futures Positive Uptrend to Continue in Short Term Bank Nifty Futures sellers are in control however momentum sellers are clearly missing from the market. Hourly support comes around 26206 levels. Throughout the June month bank nifty […] - Image may be NSFW.
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Clik here to view.Bank Nifty Futures – Short Term Overview December Expiry – Part 2 Last week trading session ,Bank Nifty futures attracted lot many short term sellers came to compete in the market. Trading behavior was in such a way that most of the traders we dealt with […] - Image may be NSFW.
Clik here to view.Bank Nifty Futures Trading Preparation for 3rd Apr 2017 Let me cut short the top down analysis quicker in Bank Nifty Future Charts. We are trending higher on the monthly timeframe, weekly timeframe and daily timeframe. Typically every timeframe […] - Image may be NSFW.
Clik here to view.Bank Nifty Daily Sentiment at Extreme Bank Nifty since the start of Jan 2017 had done a 1000 points+ recovery and moved up without much rotations on the daily charts. Trading Sentiment remains positive for the weekly timeframe […]
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