Bank Nifty Analysis: 17-05-2023
HDFC Bank and ICICI Bank's trends are very weak. ICICI Bank has broken its major trendline today. So, Bank Nifty went down today to the 43438 level and hence took support there as we discussed yesterday. In the chart, the market is within the channel. If the channel is broken (upper or lower side) tomorrow, then the market will move in the direction given in the chart.
HDFC Bank and ICICI Bank's trends are very weak. ICICI Bank has broken its major trendline today. So, Bank Nifty went down today to the 43438 level and hence took support there as we discussed yesterday. In the chart, the market is within the channel. If the channel is broken (upper or lower side) tomorrow, then the market will move in the direction given in the chart.
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