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Bank Nifty : Log Scale

NSE:BANKNIFTY   NIFTY BANK
BN's range on monthly log chart is getting narrowed which is now standing at 32000-24000. Risk to reward ratio is now skewed towards risk. Let's see how things pan out in next couple of months. On daily basis if it breaks 29400 then expect a deeper correction towards 28400 range with stop placed above 29750.