Bank Nifty since the start of Jan 2017 had done a 1000 points+ recovery and moved up without much rotations on the daily charts. Trading Sentiment remains positive for the weekly timeframe as well as daily timeframe. However trading sentiment on the daily timeframe is at the extreme which could bring short term corrections or volatile sideways action.
Nifty and Bank Nifty futures are showing opposite trends this week and bank nifty continue to under perform nifty futures for time being. Bank Nifty futures sentiment continues its negative sentiment for the last two trading sessions. However Nifty Sentiment holds positive for the last 5 trading sessions with the double outside day pattern on the recent charts.