The bank index witnessed pullback and buying the in the last two sessions. The prices are now just kissing a resistance level
. 31800 levels may pose as a strong resistance for bank nifty
, above which 32170, 32620 & 33500 seems possible. However any failure to hold 30900 levels will push banknifty
down to 30000 zones below which banknifty
may find support at 29500. The RSI
is into neutral zone taking support at the bullish
oversold levels, MACD
has moved below zero line. You can notice that the levels are very wide, as budget session may result into wild swings in the coming week.