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BharatJhunjhunwala

Bank Nifty close to 31000. It's a important support level.

Nifty Bank Index (NSE:BANKNIFTY)  
BharatJhunjhunwala  
NSE:BANKNIFTY   Nifty Bank Index
Trend Analysis Chart Patterns Technical Indicators BANKNIFTY NIFTY Technical Analysis bharatjhunjhunwala prorsi Relative Strength Index (RSI) options-strategy
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trendanalysis chartpattern indicator banknifty nifty technicalanalysis bharatjhunjhunwala prorsi relativestrengthindex options-strategy
In my last Friday’s update I mentioned that we may see banknifty trading at 31000 levels. The index registered a close at 31160 today. Now it’s trading close to a support level the KS line. A major support is at 30600. Most of the time KS acts as a very good support for prices, so a bounce from it is not ruled out. 31600 will be the decider level for coming sessions, a strong close above it will only result in trend resumption. The RSI is pointing down while MACD lags upside momentum.
Bharat Jhunjhunwala
MFTA,CMT,CFTe,MSTA
www.prorsi.com

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BharatJhunjhunwala
If bulls don't come to rescue then 29500 is quite evident.
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