Like, Nifty Bank Nifty also continues to be Bearish. However, here the fall is quite distinct after being in a channel. (Refer to my Nifty Pre market report).
BN has broken that channel and now the next support could be in the form of the Daily Trend line as shown.
Presently, the 200 DEMA could act as a mild support.
For the current week, I expect BN to be range bound between 52,177 and 49,300 (The previous Weeks range).
Large trending moves could happen intraday only but overall, it could just remain range bound for the week.
Stay tuned for intraday updates on good set ups.
BN has broken that channel and now the next support could be in the form of the Daily Trend line as shown.
Presently, the 200 DEMA could act as a mild support.
For the current week, I expect BN to be range bound between 52,177 and 49,300 (The previous Weeks range).
Large trending moves could happen intraday only but overall, it could just remain range bound for the week.
Stay tuned for intraday updates on good set ups.
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