A bearish engulfing candle on Bank Nifty EOD. RSI and Stochastics on Bank Nifty are on the verge of giving negative divergence. MacdH looking exhausted.
A doji on Nifty EOD, suggesting indecisiveness. Exhausted momentum indicators trading in the OB zone, higher volumes.
Individually, majority FnO stocks exhibitng weakness.
To sum it all, it seems like its time to unwind longs and short sell at the first visible sign of weakness. Downside, we may witness 5230 levels again.
Happy Trading !!!
Disclaimer: The said technical analysis is a perception based on various charting methods. Trades on my opinion are to be done solely at your own discretion.
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