Finally, bank nifty closes away from its 6-day closing price. So now what will be our analysis for tomorrow?
Today after falling in 1st half, bank nifty was in a tight range in 2nd half. If the bank breaks the 41400 level we can target the previous day's high(PDH) i.e. 41660 level, and if the breaks the previous day's low(PDL) 41170 level, our target will be 41000 level as it is a psychological level.
On the other hand, if it opens, above the 41400 level, PDH will act as resistance, and below the 41170 level, the market will most probably sideways.
Note - I'm not sebi registered, this is only for educational purposes. Do your own analysis first.
Today after falling in 1st half, bank nifty was in a tight range in 2nd half. If the bank breaks the 41400 level we can target the previous day's high(PDH) i.e. 41660 level, and if the breaks the previous day's low(PDL) 41170 level, our target will be 41000 level as it is a psychological level.
On the other hand, if it opens, above the 41400 level, PDH will act as resistance, and below the 41170 level, the market will most probably sideways.
Note - I'm not sebi registered, this is only for educational purposes. Do your own analysis first.