Nifty opened with a gap up on Wednesday trading session with a euphoric sentiment and later witnessed a profit booking from the all-time high. which bring immediate trading sentiment negative and likely odds of facing short term selling pressure
Nifty Hourly timeframe turned to sell mode indicating an immediate short-term selling pressure towards 16460 and 16300 levels in a very short term for the September expiry.
Bank Nifty Futures already holding with selling pressure and likely to move down positionally further down. Bank Nifty hourly is maintaining selling from 13th Aug onwards. The rough volatile side phase finally looks like getting over and the short term trend is getting negative and the daily negative sentiment is holding negative for the last 6 trading sessions.