BankNifty Analysis
The opening candle was very similar to the Nifty’s. The low set in the opening minutes ended up as the low of the day. In a way, it shows the bulls are still in control. The pattern was quite similar to yesterday. Weak open and then range-bound trade.
4mts chart link - click here
Banks will be on their toes tomorrow huffing and puffing to...
BankNifty Today Analysis
BankNifty also had a gap up open, but the first-hour price action did not seem normal. Not just because we went underwater and traded negative for the rest of the day, but the lack of will by the banks to move up. We all know the RBI MPC started the meeting today and we will have the summary on Friday @ 10.00 AM.
5mts chart link - click...
