Bank Nifty in coming week.
Updated
Bank Nifty has been under pressure for a long time. Since 19th of july it had been trading in the range of 23128 – 21059 . The meagre 250 point range has been too narrow for it to sustain. It buckled under pressure on 14th.
But interestingly it took support at 21628 which is exactly the point it had tried to breach on 30th April. Finally given another close below 20 EMA.
Next big support is available at 21044 . There will be more volatility in coming days but I have doubts that this big correction will occur on Monday. Watch out for 20th August date.
Be cautious.
But interestingly it took support at 21628 which is exactly the point it had tried to breach on 30th April. Finally given another close below 20 EMA.
Next big support is available at 21044 . There will be more volatility in coming days but I have doubts that this big correction will occur on Monday. Watch out for 20th August date.
Be cautious.
Note
As expected, It gave the reversal of close to 700 points.
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