Bank NIFTY-Weekly Outlook-Venkat's Blog

The Bank Nifty moved in shorter range of 1033 points Viz. between 42269 & 43302 which made a bullish candle and made a higher high and higher lows. Going forward the break-out level of 41300 would become a support for some time at least till we see a daily close below this level. The Index is trading in a new upward sloping channel with a pivot at 42970 and the top at 43770 and lower support at 42070. Only a close below 42000 could lead to deeper correction. Expected range for Bank Nifty is 42070-43770. 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.