1. Nifty bank is bullish above the Blue trend line crosses with 15 minutes green candle and wait for a range then trade that range whichever side it breaks (bullish or bearish) otherwise my view is bearish due to tapering in US.
2. There is a very strong support zone which act as bounce back level, last time, it will try to bounce from that level, again.
Nifty bank 15 minutes a candle:
1. If Nifty bank goes above 40200 and sustain for 15 minutes or more, then more upside is possible till 41000 levels. PSU banks are performing better than private banks.
2. If Nifty bank goes below 39500 and sustain for a while the it will be bearish sentiment which will take down Nifty bank to 38500 or below levels.
3. As I have told you earlier that 38500 is a very strong support zone and if it breaks then you can see below 38000 levels 37500 to be more specific but I am not that much bearish but you can not say about the market behavior.
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