OK folks ..... Keep an eye on tiny range of 27000 to 27050 .... Bulls will have to prevent BankNifty from breaking below this tiny range. If they fail decisively, then BankNifty would be in real trouble (big big trouble). The longer bulls stay above this tiny range, better for them. Bears will have to break below and stay below this tiny range. This range is definitely a no trading zone. So, one should observe thoroughly before taking a trade. The worst nightmare for any trader is when a trader takes a bet seeing breakout above or breakdown below a particular decisive level of about 50 to 75 points in BankNifty only to realise later that index has somehow been able to shift gears to produce a pull back in opposition direction. Hence, blowing away premiums and stop losses.
Volumes are extremely low. Index is finding it hard to produce a swift movement. Big traders and investors from US, Europe, Japan and China would be back by 4th January only. Hence, next week would be decisive enough.