Bank NIFTY-Weekly Outlook-Venkat's Blog
The Bank Nifty moved in range of 705 points Viz. between 44095 & 43390. The weekly candle is a bullish and made a lower lows and lower highs almost a similar candle of the previous week. Going forward the 42700 would become a support for some time at least till we see a daily close below this level. The Index is trading in a new upward sloping channel with a pivot at 44530 and the top at 45600 and lower support at 43670. Only a close below 42700 could lead to deeper correction. Similar to the main index Bank nifty also is making alternate bullish and bearish candles for the past 6 weeks. Expected range for Bank Nifty is 43600-45600. A daily close outside the broader range indicated above would require re-evaluation.
Disclaimer: The views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.
Disclaimer: The views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.
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