Posts
MTECHTIPS:-BANK NIFTY
The Bank nifty witnessed some pull back rally, as the index witnessed some up move after a very weak opening. Banking stocks were under pressure in early trade, but soon recovery was seen as the stocks witnessed some value buying. Any dip below the levels of 9130 now will be very weak signal for the markets in coming days. The index has crucial support around 9100 levels, and if the Bank nifty regains lost ground & holds above 9300 levels, we may witness more pull back. Overall trend in banking counters is weak and holding below 9100 levels will be very negative signal for the index in coming sessions. Strong resistance in the bank index is seen well above the 9300 levels and the current negative trend will be broken if the index holds above the resistance of 9400.
The Bank nifty witnessed some pull back rally, as the index witnessed some up move after a very weak opening. Banking stocks were under pressure in early trade, but soon recovery was seen as the stocks witnessed some value buying. Any dip below the levels of 9130 now will be very weak signal for the markets in coming days. The index has crucial support around 9100 levels, and if the Bank nifty regains lost ground & holds above 9300 levels, we may witness more pull back. Overall trend in banking counters is weak and holding below 9100 levels will be very negative signal for the index in coming sessions. Strong resistance in the bank index is seen well above the 9300 levels and the current negative trend will be broken if the index holds above the resistance of 9400.
No comments:
Post a Comment