The Bank Nifty moved in range of 1176 points Viz. between 44207 & 45383. As expected the previous two weeks move to be treated as consolidation, the Bank Nifty finally broke its narrow range. It made a strongly bullish candle, With the change in sentiments, the declines are expected to be bought. The Index is moving in an ascending channel and expect the lower end of 44350 to hold and the next major resistance would be 45560 which is the top of the channel. The oscillators point towards a break higher. Expected range for Bank Nifty is 44300-45600. 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.