BANKNIFTY for 29th November

Banknifty made a strong green candle on daily chart with higher high, higher low and higher closing price, like Nifty. Today PSU banks were on fire. Though BNF contains only 3 PSU banks and that too very low weightage, increase of more than 4% in BoB and PNB must have added their share in the rise in BNF. Please check my video posted on youtube under name Market Movers India for slightly more but similar content. Unfortunately, there is no clear level for buying in BNF so take today’s low as support and if it reaches there buy. As far as resistance is concerned, frankly there is no dependable resistance. BNF can easily make new high tomorrow.