BANK NIFTY LOOSING STRENGTH (OR COOLING DOWN)

Nov 21, 2022

Benchmark index Bank nifty is looking some weakness is there although price take support on and somehow managed to closed above on up trendline but what I find some weakness indication are there on the basis of RSI indicator for example that price takes support but RSI indicates that the strength of the price to go ahead has decreased or it might be a cooling down after long runup so we have to wait for adding long position in it or in good banking stocks for accumulations I added two supports on RSI indicator on daily chart of Bank nifty for additions if RSI will take support and bounce from there also that RSI levels could act as a target for this idea and that are RSI 64.38 and second is RSI 59.89..