Sell-off in Banknifty/Nifty ratio looks overdone

מאת ‎OmiFX8‎
The ratio has violated the near two decade-long ascending trendline.

The downward momentum, however, looks to have run out of steam, as indicated by the oversold reading on the monthly MACD's RSI.

A corrective bounce looks likely

BANKNIFTYTechnical IndicatorsNIFTYTrend Analysis
OmiFX8

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