Even with a rate cut today, the Bank Nifty can rally( as already factored in)unless RBI hikes by 50 bss points which is unlikely. However, if there is very hawkish commentary due to MSP, crude and INR depreciation then a sell off likely. Better not to trade it. If one has to trade it, its better to put buy stop and sell stop on either side of todays range and watch!
HI
BNF is in range, higher VPL & LOWER VPH..so its a kind of triangle.
todays high & yesterday low has become MAJOR PIVOTS . now either real breakouts/bof will give good move
thanks