Buyers neither faced the falling knife nor paused the bloodbath, and the sellers won the day.
Price had stuck in the descending channel, and we had a chance to see the maximum move of 37800 due to the supply zone.
I have mentioned (click here to read the previous bank nifty report), “you must note the second resistance of 36871. It is a barrier for buyers. If Bank Nifty remains under of it, then we may see an excess of this channel. And that will collapse the Bank Nifty prices from 36800 to below.”
Price had started an upward move and made a high of 37581.
Bull traders pushed prices near the supply zone where sellers had taken control.
2:35 PM, Bank nifty reached the last target of 35696 and made a low of 35535.
Even if you have traded after the breakout of 36871, you could have 1164 points in just three days.
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