Nifty Bank IndexLong
Bank Nifty | Pre Market Weekly View | 09 Dec - 13 Dec 2024
Bank Nifty closed the previous week with a strong Bullish candle which has closed comfortably above the 50% zone of the previous fall.
For the next week, I have a strong feeling that BN could be range bound to mildly Bullish.
The overall trend is certainly Bullish. However, since there has been a strong rally last week, there could be some profit booking.
Again, a buy on dip strategy can be applied here.
Upside resistance zone is 54,200.
So, if there's a big gap up, look for short side reversal.
If there's a gap down, look for price action and buy.
For the next week, I have a strong feeling that BN could be range bound to mildly Bullish.
The overall trend is certainly Bullish. However, since there has been a strong rally last week, there could be some profit booking.
Again, a buy on dip strategy can be applied here.
Upside resistance zone is 54,200.
So, if there's a big gap up, look for short side reversal.
If there's a gap down, look for price action and buy.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.