5th feb candle in the daily chart is completely out of the Bollinger band. This indicates that the Bank Nifty will take a sharp turn to return and find a solid support.
On the other hand, weekly charts have a very strong bullish engulfing pattern which means that uptrend might just continue.
The gap between the trendline and the candles is way above understandable limits.
overall, i will wait before entering any long positions. Not only that, one can go short with strict stop losses.
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