The trend is positive in the Bank Nifty index, I am still bullish in the market until it touches ATH.
The trend is a friend unless it bends in the end.
Overview: Bank Nifty opened gap down and continued to slide below 35240 levels and almost testing or support of 35076 levels also later in the second half went below 35076 to around 35011.
Banknifty resistance level: 35050/35240
If tomorrow Bank Nifty opens gap up or gaps down we might see a sharp recovery in the market so we can go long in both scenarios.
Banknifty Support level: 34893/34629
If bank nifty opens flat and crosses yesterday’s low then only we can short for the lower targets on support.
Also, RIL has been falling for the last few days so it can halt or profit booking can be seen which might pull the index up.
The view is still for a very good rally in Banknifty in upcoming sessions so we should be ready to ride the bulls.
Tomorrow it will be important as it will be monthly closing on BNF so watch out for the levels.
The trend is a friend unless it bends in the end.
Overview: Bank Nifty opened gap down and continued to slide below 35240 levels and almost testing or support of 35076 levels also later in the second half went below 35076 to around 35011.
Banknifty resistance level: 35050/35240
If tomorrow Bank Nifty opens gap up or gaps down we might see a sharp recovery in the market so we can go long in both scenarios.
Banknifty Support level: 34893/34629
If bank nifty opens flat and crosses yesterday’s low then only we can short for the lower targets on support.
Also, RIL has been falling for the last few days so it can halt or profit booking can be seen which might pull the index up.
The view is still for a very good rally in Banknifty in upcoming sessions so we should be ready to ride the bulls.
Tomorrow it will be important as it will be monthly closing on BNF so watch out for the levels.