Bank Nifty–Another view–Bearish One for Next 6-8 weeks.

Ok, so here is another view for Bank Nifty. It may very well be possible that we completed corrective B wave at 18755 on 22.5.2015. This means ‘C’ down will target 15700 levels by 15th July 2015.

Hence, as per this view, risk-reward ratio is favorable for Shorting in BN. SL for shorts therefore remain at 18755.  Also we have RBI Policy review on June 2. So if you are Short on BN, keep it hedged by buying CALL for 19000 or above as per your risk appetite.

 

Trade safe.

Bank Nifty(Daily)20150523224819

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