BANKNIFTY multi timeframe analysis

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As seen from the charts above, ESI indicator shows that outlook for BANKNIFTY looks bearish in the short term, as of 11:15 IST 5-May-2021.

ESI indicator:

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ملاحظة

Short turned into a Long at 12:55. Always take the opposite side i.e. Long when VIX spike is not correlated with Price drop.