BreakDance in BankNifty
If we notice from last 4 trading sessions the BankNifty was unable to decide which directions it wants to go. There is a gap up opening and the whole day just doing time pass and forming Doji's. Now in last 2 days direction was clearly defined in downtrend. Support near 32270, 32190, 31900 and Resistance near 32640, 32872, 33028.
If u Look at 26/2/21 RSI was at 49.99 which was then support and now it has become a resistance level. So it's confirmation for a deep layoff.
If u Look at 26/2/21 RSI was at 49.99 which was then support and now it has become a resistance level. So it's confirmation for a deep layoff.
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