Time to be watchful.

today's bounce is not sufficient to
avoid any further decline.Bank nifty
is trading comfortably below 20 dma.
Though in hourly time frame five wave can be traced
with completion of C wave further decline can not be ruled out.
today's bounce was lack lustre.
with rbi moneytary policy ahead and last time food inflation is most spoiling factor.
Comment from rbi likely to be hawkish.
as bank nifty is correcting a diogonal in 5 th wave so further decline can not be put aside.
Indian market main strength is the power of retailers.
it is better to play with rbi policy by hedging.
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let us watch which side it breaks on closing basis.