Bank NIFTY-Weekly Outlook-Venkat's Blog
The Bank Nifty moved in range of 1212 points Viz. between 43739 & 44951. The Bank Nifty successfully cleared the resistance at the top of the descending channel and moved swiftly towards 45K..The Bank Nifty is simultaneously created an ascending channel with top at 45300 at the top and 43800 at the lower end. The break of the larger descending channel target is 46400 and this would be negated if the Bank Nifty slips back below 43700 to reenter the earlier channel. There are fair chances that the Bank Nifty moves swiftly higher to make a new ATH. The oscillators are turning positive. Expected range for Bank Nifty is 43800-45400. A daily close outside the broader range indicated above would trigger a sharp move and would require re-evaluation of risk and target.
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.
Disclaimer
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