Fast approaching the support line of the expanding triangle at 8292 which coincides with the 50% fibo level of rise from March 2009 lows at 8318. 50% levels are deciders of the trader sentiment.If holds then the fall is considered a correction and but if fails then it is some serious selling and traders have lost faith in the Bank Nifty holding up in the near future.
Look for reversal signals around the 50% fibo levels. If fails to show up the Bank Nifty is heading lower.
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