The Bank Nifty moved in range of 1026 points Viz. between 42390 & 43318. The Bank Nifty posted an inside bullish candle. In spite of Major banks reporting good Q2 numbers, the index could not post good gains. The Index is moving in a descending channel with lower end at 41800 and the top of the channel at 44220. The oscillators are turning positive. Expected range for Bank Nifty is 42500-44300. If the support at 42500 gives way we may see another steady decline towards 41800. A daily close outside the broader range indicated above would trigger a sharp move and would require re-evaluation of risk and target.
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.