Nifty Bank - In Bearish Price Trend -
A "bearish price trend" refers to a market condition where the prices of financial assets, such as stocks, commodities, or currencies, are generally moving downward over a sustained period. It indicates a prevailing negative sentiment among investors or traders.
WEEKLY OUTLOOK ON NIFTY BANK
If Bank nifty crosses above 36850 has been seen as trend breakout
Bank nifty out performing well than nifty and in the last trading day it taken out 200 day moving average easily with good volume which is also seen as positive signal for banking sector..
On the flip side, un-filled gap is near 35760..
In case of breaching 36200 we...
Bank nifty is consolidated for short term.
Wait for the accumulation phase over and retest of the accumulation box on either side.
Than go long on BANKNIFTY.
Bank Nifty saw a profit booking at the end of the session.
View : Cautiously Bullish (due to evening star formation at the end)
Support at 35000 / 35200, if
Resistance at 35700 / 35800
If breaks, 1st target 36000
View for tomorrow : if it fails to break the top of evening star might see consolidation with no break out or break down.
Although, 2nd halfs are more...
