MTECHTIPS:-BANK NIFTY
The Bank nifty witnessed a sideways trading session, as the index consolidated around the 10500 levels. The index failed to hold on to 10500 levels, and the index closed with very small losses to close below 10400 levels. The Banknifty has immediate resistance above the 10600 levels in coming sessions. The banking stocks have seen consolidation around 10300-10600 levels in last few sessions. The Bank nifty in coming days may take some support at lower levels around 10400-10200. If the Index slips further we may soon witness further downside in the Bank index. Any dip below the levels of 10350 will be a negative signal for the index and we may soon retest the supports of 10200. The outlook has turned positive and in coming sessions, if the banking index manages to hold on to the levels of 10600 we may soon test the resistance of 10800. The bank index will face strong resistance at higher levels above 10800 in coming sessions. Holding above will open up 11000+ levels.
The Bank nifty witnessed a sideways trading session, as the index consolidated around the 10500 levels. The index failed to hold on to 10500 levels, and the index closed with very small losses to close below 10400 levels. The Banknifty has immediate resistance above the 10600 levels in coming sessions. The banking stocks have seen consolidation around 10300-10600 levels in last few sessions. The Bank nifty in coming days may take some support at lower levels around 10400-10200. If the Index slips further we may soon witness further downside in the Bank index. Any dip below the levels of 10350 will be a negative signal for the index and we may soon retest the supports of 10200. The outlook has turned positive and in coming sessions, if the banking index manages to hold on to the levels of 10600 we may soon test the resistance of 10800. The bank index will face strong resistance at higher levels above 10800 in coming sessions. Holding above will open up 11000+ levels.
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