Nifty & BN in buy mode

3/5 EMA crossed over to buy mode for both NIFTY & Bank Nifty yesterday.

Prices are above 10 D EMA as well.

Nifty & BN in sell mode

Bank Nifty is in sell mode as per 3/5 EMA crossover. It was  in Buy mode since 15600 levels for a long time giving a profit of 2900 points. Nifty is in sell mode since yesterday.

10 d EMA for Bank Nifty is at 18435 & for Nifty at 8502.

Nifty Bounced yesterday from 8360 levels

Till this hour Nifty is taking support at 8360, the lower trendline. Breaking 8360 can lead tomore correction.

 Bank Nifty has already broken the trendline, and falling in a narrow channel. Breaking the channel on lower side can only add momentum to this fall, else it will be a shallow one.

Bank Nifty Flag

BN forming a flag like pattern. Break below 17200 will be a sell, and break above 17400 will be a buy for higher levels.
It may face resistance at 17400 levels and come back to 17200 levels.
12.15:  Book profit once and can be shorted again below 17180 SL 17220.