Bank Nifty futures today tested the round number reference 40,000 levels. However laggard activity is seen around the Bank Nifty Futures trader’s participation. Laggard buyers are attempting to buy every micro dip in Bank Nifty Futures.
Extreme Indications – Divergence
Bank Nifty showed overheated sentiments with Extreme Indications Divergence on the hourly timeframe as shown below. Price is making higher high and the Extreme Indications values are making lower lows.
Overall in the short term 39300 and 38900 are the levels to watch out in the very short term.