The Bank Nifty moved in range of 914 points Viz. between 43796 & 44710. The Bank Nifty posted a positive candle after 3 weeks of bearish candle. The current sentiments appear to shift towards positive from negative. The declines closer to the monthly lows around 43700 are expected to be bought. The Index is moving in a descending channel with lower end at 43720 and the top of the channel at 45520 with the midpoint at 44670. The oscillators are showing mixed signals. Expected range for Bank Nifty is 43720-45200. A daily close outside the broader range indicated above would trigger a spike of 400 points 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.