NIFTYBANK - RECOVERY TIME

Nifty bank, as suggested bulls failed and closed in decent red. Usually Nifty bank has major influence on the parent index sans yesterday metals move. Clearly the stronger 39000-18300 area in both the indexes holding the upmove. It is recovery of profits that would push the move down rather than bears attack. However, bulls need to be careful as any move below 37600 warrants similar range push to the down. Remain on short side with stops 38800 for move to 37800.