Nifty Bank Index

Banknifty weekly analysis

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Banknifty weekly chart

On the weekly time frame banknifty is looking stronger than nifty

39500 will act as a strong resistance and profit booking near resistance is possible

Strong up trend support is placed at 36000 a healthy retracement will this support zone will give a chance to create fresh long position

2 consecutive day closing above 39500 will reject down side move and next target can be 42000 on weekly basis

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