Bank Nifty : Resistance zone & Fib Golden Ratio !
Normally, we all have opinion that prices will reverse at 61.8% fib ratio ( that's why its called Golden ratio). Put that in combo with resistance zone, the probablity of getting good trade increases. Thats what we have here in BankNifty, with price around 18900's and resistance zone in same area, I expect the market to reverse here. We do had similar kind of setup in Nifty also, but that was risky setup which is posted earlier. Just to point out RSI is overbought but that won't be sole reason for Banknifty to reverse from here.
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Stock analysis only in Indian version & Forex ideas here.
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