The beginning of the week Monday 7th Nov I had clearly suggested do not blindly bet on longs and also in the weekly outlook I mentioned precisely about the downward sloping channels and that the technical indicators are showing sign of weakness and till the downward channel does not give a breakout above, the upside remains on risk. I have also been mentioning the key level of 5337 from 31st Oct just check, it worked as a wonder figure.
Clearly mentioned Nifty fut resistance at 5337 and once again the high were placed near the resistance at 5332. I had boldly suggested the downward support for the bulls is at 5223 verify the low it was placed at 5226.
Bank nifty the suggested resistance was 9954 the high placed was 9950 the moment it broke 9826 it dragged to 9740 levels and the sentiment impact on banking has resulted into heavy sell off breaking all the crucial levels pulling it down to 9575 levels.
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