Recent days Bank Nifty Futures are under extreme pressure as it had so far lost 11.5% for this month alone breaking the 4 month low or roughly more than 3300 plus points of correction in Sep 2018 alone. Quick flip is in sell mode since 17th Sep 2018. The crash in Bank Nifty is mostly driven due to overvalued Private Banks, USDINR currency crisis and other local factors.
So the current downtrend brought 5 extreme indication zones. Extreme indications are zones where one can do partial profit booking. Such extreme indication zones often has high probability very short-term trend reversal and at times it could event lead to major trend reversal. Current extreme indications readings -21.9 are way below standard levels indicating price holding above 25009 levels could possibly bring some positive bias as the candles turn to neutral bars.
As of Mondays trading is concerned emotional selling prevailed since the open. Momentum sellers pushed the price down. Daily Sentiment is negative for the third consecutive trading day. Overall a recovery above 25009 could bring a possible short-term pullback a.k.a short covering towards 25300-25500 levels.