The Bank Nifty moved in range of 1674 points Viz. between 44695 & 46369. The Bank Nifty is back with big moves. The weekly chart shows a strongly bullish candle and it made higher lows and higher highs. Normally there would be breather after such strong moves in the following couple of weeks. The Index is trading in an upward sloping channel with a pivot at 45760 and the top at 46760 and lower support at 44760. A weekly close below 44500 could lead to deeper correction. Expected range for Bank Nifty is 45300-46700. A daily close outside the broader range indicated above would require re-evaluation.
Disclaimer: The views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.
Disclaimer: The views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.