As per linear regression indicator it is evident that banknifty is in uptrend & is in oversold levels
Aroon down is above aroon up indicating downtrend in banknifty
MACD is also showing downtrend for now
But taking short position at this level seems little dangerous as main trend is up, one can go short but as soon as MACD & Aroon show sign of uptrend to takeover exit remember that trend is still up these are just corrections taking place
Aroon down is above aroon up indicating downtrend in banknifty
MACD is also showing downtrend for now
But taking short position at this level seems little dangerous as main trend is up, one can go short but as soon as MACD & Aroon show sign of uptrend to takeover exit remember that trend is still up these are just corrections taking place