Contra Trade?PSU Bank Index fell 17 % from 52 W high.
Reasons for fall may be
1. Profit booking .
2. Sector rotation.
Reasons to take trade.
1. At Support, trying to capture up move before it goes up or down.
2. Institutions may enter again at lower levels after profit booking.
Enter 73.5
SL 72
Target 75-77
NOTE: High chance of failure as we are going against the trend. If target reaches then book profit.
