BANK NIFTY 12 DEC: 47373/47178 crucial resistance now
Bank Nifty, closed below 47178 which was earlier resistance, after taking resistance from 47476,47373 has broken below 47178.
Though it is strongly bullish the first correction may be seen down to 46754.
Further correction can be seen down to 46300/285 or 46121
But if a weekly close is seen above 47476/47373 then it may continue it's bulllish moment.
The analysis has been done on hourly time frame,taking support and resistance combining with Yearly(2023) and Monthly Pivots of December.
Though it is strongly bullish the first correction may be seen down to 46754.
Further correction can be seen down to 46300/285 or 46121
But if a weekly close is seen above 47476/47373 then it may continue it's bulllish moment.
The analysis has been done on hourly time frame,taking support and resistance combining with Yearly(2023) and Monthly Pivots of December.