BANK NIFTY (WHAT NEXT?)

1) Bank Nifty is a very serious under performer as compared to Nifty
2) Serious resistance at 20000/- level which Bank Nifty unable to breach twice in last 4 sessions .
3) 200 EMA is at 20048 which Bank Nifty is very keen to break but unable to do so twice to move towards uptrend and moving in the channel of resistance
4) To Break 200EMA or 20000/- level it is very important for private bank to perform very fast so that Bank Nifty will outperform but as per current scenario it is very difficult to do so as most of the private banks has performed in last 4 session despite of that fact Bank Nifty unable to cross 20000/- or 200 EMA level
5) RSI is under stress mode
6) All Banks only Private Banks Majorly Axis , HDFC and ICICI perfomed other 2 major Banks did not give their contribution Like Kotak and SBI also Relatively all other PSU banks underperfomed
7) I think Bank Nifty will again come to to the level of 18000 there after it will start again to break the level of 20000/- which should be supported by all the private banks together
8) ADX is also not supporting the move of Bank Nifty for further move up .

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