In my last article dated 22nd Nov 2016 we discussed something on Bank Nifty @@@
Well Bank Nifty is the only index which is still strong & 1000 points above the Laxman Rekha which is right now placed close to 17400/17365+- where it is currently trading around 18400.
A Possibility@ Bank Nifty has the room to fall another 1000 points close to its Laxman support rekha and where other indices like Nifty & Sensex could also bottom out along with Bank Nifty and we see a big bounce there after.
Let see if the above possibility works out.
Well Bank Nifty is the only index which is still strong & 1000 points above the Laxman Rekha which is right now placed close to 17400/17365+- where it is currently trading around 18400.
A Possibility@ Bank Nifty has the room to fall another 1000 points close to its Laxman support rekha and where other indices like Nifty & Sensex could also bottom out along with Bank Nifty and we see a big bounce there after.
Let see if the above possibility works out.
Since then Bank Nifty has corrected close to 600 points & right now the Laxman Rekha support is close to 17440+-
Currently Bank Nifty at 17828 when am writing this :)
So we may expect correction close to 17550/17440 maxx before a big bounce resume again. In short i feel we are very close to a bottom.
Wish this possibility works out as expected.
Kind Regards,
Manish Bothra
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