Running Triangle probability Receding as suggested by RSI

7 de jun. de 2020

The index as per our last week’s report is expected to hit a strong barrier around 22400-22600 and prior to that we still have 21613 and 21967 as the major resistances. The momentum is now starting to slow down in individual components, at least in private banks and the lead now seems to be going in the hands of PSU Banks. Unfortunately the weight-age of PSU Banks in Bank Nifty is far too low as compared to Private biggies and hence in this index also one is advised to book profits in long positions around the mentioned target zone of 22400-22600