Bank Nifty: 8 DEC 23 :RBI Interest Rate Decision
RBI is likely to keep the rate unchanged @ 6.5%.
On chart,Bank Nifty took support from 46500-46474 as expected in 7 DEC analysis.
The set up remain same as previous day,
FOR UPSIDE:
If it breaks 47237,47373(improtant yearly pivotal resistance) and 47476 and sustain above 47476 then intraday upside momentum can be seen to 47999-48000
FOR DOWNSIDE:
46474,46285 ,46121 are support levels. 46285 might play a strong support as in daily time frame was resistance earlier, after a retest to 46285 can see some buying momentum.
On chart,Bank Nifty took support from 46500-46474 as expected in 7 DEC analysis.
The set up remain same as previous day,
FOR UPSIDE:
If it breaks 47237,47373(improtant yearly pivotal resistance) and 47476 and sustain above 47476 then intraday upside momentum can be seen to 47999-48000
FOR DOWNSIDE:
46474,46285 ,46121 are support levels. 46285 might play a strong support as in daily time frame was resistance earlier, after a retest to 46285 can see some buying momentum.