Nifty has confirmed Nifty bank average today which is sell on rise for the short term traders. In my earlier post today i initiated sell call on Nifty Bank but now Nifty charts two have confirmed the other average with Double Top formation. As we all could notice that neckline was around 7590 where markets was taking support since last 4 times. Fortunately that was even the 100 day average which is making my view more stronger. On the side factor, indicators have given bearish crossovers and also the option data is suggesting 7400-7450 range to be achieved once this expiry. So hold your shorts and cover your longs.

Target on Downside: 7450, and if that breaks 7301. Stop loss on upside is 7650

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