BankNifty - Bulls beware - Double top at 20900-21000

22 ก.พ. 2017

BankNifty - party started for the bulls from 17600 to 21000. 3400 points or approx. 20% in just 25 to 30 trading sessions. Vertical sharp rally to previous highs partly courtesy to HDFC Bank. Now party seems to be over atleast for the next two months. Monthly resistances doesn't get taken out like this. Now it should go lower and make a higher high at around 19000-19500. Then come with force to break 21000. Tomorrow should be the last day for the bulls. We have taken shorts at 20920 with SL 21070 or 150 points and will see how it goes.