The Year 2018 is about to close and only three more trading session left this week as well as this year. It is interesting to have a sentiment check on the weekly timeframe to identify medium-term bias.
Nifty Futures – Weekly Trading Sentiment
Weekly Trading sentiment turned negative this Monday in both Nifty Futures and Bank Nifty Futures which presents medium term bearish outlook towards 10200 and 10000 levels or even below that in next 1-2 months period.
Bank Nifty Futures – Weekly Trading Sentiment
It is definitely short and medium term investors caution zone where stock selection is going to be turbulent, chaotic and not an easier task here especially in a downtrending markets.
As long as Nifty Trades below 10750 levels and Bank Nifty below 27000 levels weakness is expected to continue in the medium term. All one can do is get prepared for it.