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bijoy2526
Feb 14, 2021 5:43 AM

BANK NIFTY approaching target 11 again. 

Nifty Bank IndexNSE

Description

it has come out of congestion of NR7 day before.
among its constituents both icici bank and axix bank exhibiting very positive chart.
sbi testing its resistance zone if it overcomes it its upward will continue.
pnb is lagging and both hdfc bank and kotak bank showing consolidations.
if bank nifty overcomes resistance at target 11 target 12 is possible.
for any long position stop loss should be 35000.
it is unlikely sbi will go back and fill up the gap that it has left behind in near future.
In any case if bank nifty breaks below 35500 next support is at 33790.
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Comments
Eshwarreddy5
Hi,
why do you feel that there wont be any gap filling for SBI?
bijoy2526
@Eshwarreddy5, Some gaps takes time to be completely filled up they are accelerating gaps. Incase of infosys that type of gap was formed on 23rd dec.
relievedGnu75683
sir view on m&m fin?
bijoy2526
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