Banknifty key levels for Aug 3rd 2021
Banknifty seems in a confused state although still positive Bias.
Banks like Axis & Kotak signaling some recovery symptoms
HDFC Bank consolidating after the dip while ICICI Bank is consolidating after an up move
Since HDFC Bank which is heavy weight is still below 200 MA on a daily TF, until it cross above 200 MA and RSI(7) goes above 35, not expecting a major up move of BANKNIFY
Banks like Axis & Kotak signaling some recovery symptoms
HDFC Bank consolidating after the dip while ICICI Bank is consolidating after an up move
Since HDFC Bank which is heavy weight is still below 200 MA on a daily TF, until it cross above 200 MA and RSI(7) goes above 35, not expecting a major up move of BANKNIFY
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