NIFTY BANK - RUSH FOR CASH

25 thg 2, 2022

Nifty bank, what was medium term target remained over night target. Bear hug is grossly underestimated. Now that the extreme is achieved, one can expect rally from here. Will that be 100% re tracement of yesterday's fall? That would be the wish list of bulls. Arguably the fall of 5.79% has to retreat at least half 2.7%. However, please remember fall of 50% need rise of 100% to remain in the same place. Thus the resistance can be worked out 3% rise from 35000. Roughly 1000 point rally is the area where new selling can take place. That being the set-up wait for the rally sell with stop 36400 (not an intra-day short). Hedge Appropriately.