BN tested previous swing low range of 39400 to 39500

Mar 13, 2023

After all the choppiness #BankNifty has found some support around the previous swing low band of 39400 to 39500. Will it find support here? A close below 39400 will likely trigger more panic. This may lead to the levels of 39060, 38520 and 37940. Not expecting strong upside move until 40370 is taken on closing basis ( Intra/Daily).If closed above 40370 will be keen on 40900 and 41600 levels for this expiry.

I will maintain Bearish view below 39400 and Bullish view above 39370