The Bank Nifty moved in range of 1083 points Viz. between 43862 & 44949. The Bank Nifty finally broke the declining trend with a positive candle after four consecutive weekly bearish candles and it made higher lows and higher highs. The Bank Nifty seem to have breached the descending channel which triggered attempt of higher levels. With the change in sentiments, the declines are expected to be bought. Expect 43350 to hold and the major resistance would be 45200. Expected range for Bank Nifty is 43350-45350. 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.