Most of you would have seen our last post on the Long BankNifty – short Nifty trade.
That post was here- http://www.vtrender.com/content/spreads
In that post made on 14th July , we had suggested that the outperformance of bankNifty would end and it would stop moving higher the way it had.
This morning we are seeing early indications that bankNifty has started to lead up again.
Have a look :
The bounce from the low volume node at 1.92 has been good and the market is within striking distance of the next LVN at 2.02.
we expect that pair to make it to 2.0346 eventually.
For the broader market, it means that bullishness is back in favor.