Bank NIFTY-Weekly Outlook-Venkat's Blog
The Bank Nifty moved in range of 1821 points Viz. between 46892 & 45071. The Bank Nifty posted a strongly bullish candle with higher highs and higher lows. Though the market witnessed sharp sell-off during the final session of the week, we may find buying interest to emerge on every correction lower. Index has re-entered the ascending channel and has to sustain the support at 45800 to regain the lost grounds. For now the Index is expected to consolidate between 44850 and 46850. The oscillators are showing mixed signal. A daily close above 46800 would see a sharp move towards previous peak and possibly a new ATH. The expected range for Bank Nifty is 44850-47300. 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.
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