The Bank Nifty moved in range of 1704 points Viz. between 46252 & 44548. The high volatility and big moves are back in Bank Nifty. Past week it made a strongly bearish candle, Though the current sentiments are negative, the declines closer to the monthly lows around 44K are expected to be bought. The Index is moving in an ascending channel with lower end at 44650 and the top of the channel at 46620 with the midpoint at 45530. The oscillators are showing mixed signals. Expected range for Bank Nifty is 44650-46620. 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.