The Bank Nifty moved in range of 949 points Viz. between 43830 & 44779. The Bank Nifty seem to be caught in a range and do not exhibit a clear direction. Though it made a bullish candle, it moved almost in the same range as that of the previous week and made lower lows and lower highs. This can be treated as a consolidation phase before gathering momentum and new direction. With the change in sentiments, the declines are expected to be bought. Expect 43350 to hold and the major resistance would be 45200. Expected range for Bank Nifty is 43700-45200. 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.