Trading Banknifty using RSI
Bank Nifty has been in total sideways movement making lower highs on the hourly time frame. A corrective barrier triangle formation is noticed in the index. The weakness sets in below 25250 levels. Given the levels break decisively the index may approach to 24780 levels (conservative targets) however the pattern target stands between 24200 – 24000 levels. However a move above 26000 will negate the whole bearish view.