In the previous article, this is a big caution for the option buyers, as failure may lead to another retracement or a new leg down. The minimum fall it can be is 59,000 – 58912, which are crucial demand zones.
Bank Nifty is going down overall, even though it moves up a little in between. These small up moves are weak and getting rejected near the top. 58,800 – 58,650 is a critical level; if it breaks, the price can fall fast to 58,200 – 58,000. It will turn positive only if it stays above 59,500 – 59,600; till then, every rise is a chance to sell.
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