BankNifty | Bearish | Short

28 thg 9, 2024

Banknifty has been rising abruptly. Why this doesn't make sense fundamentally?
1. Big banks like HDFC Kotak shouldn't shoot up with this rate given the growth of the business will be nominal compared to other high growth competitors
2. BNF is trading outside regular trading zones on times when global peers are hitting lows
3. Iran & Israel escalation to have a deeper impact than before ( since the war began)
4. Entire retatil is long now. The crowd can't be right together :)
5. Technical flags are signalling to a rapid downturn . Levels marked in chart

Shorting BNF 54000 levels for fun. will keep you posted.

Happy trading :)