The Nifty and Bank Nifty indices are showing profit booking signs at these levels. Key observations are:
1. Failed auction at lower prices y'day and today as of now. (though the day is still to be completed.)
2. Hourly candles are turning bullish, though they are still bearish on daily charts.
The best is to book profits and leave some of the short position for proper exit signals.
I fear that since this fall was severe the bounce can be faded more often and volatility will be on rise for some time now.
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