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MTECHTIPS:-BANK NIFTY
The Bank nifty witnessed another very positive session in Friday’s trade as the index witnessed strong buying momentum to close the day with strong gains. The Bank index breached and closed above the crucial resistance levels of 9900 in the process. The index has crucial support below 9800 levels and any dip below these levels will test 9600 levels in coming days. The Bank nifty holding above the 200 DMA is a positive signal for the index and if it manages to sustain above these levels we may soon witness the index testing 10000 plus levels also. The bank index has very crucial weekly support around the 9600 levels and if it slips again below these levels in coming sessions, we may soon retest lower levels. The index has broken the down trend and holding above these levels will be positive.
The Bank nifty witnessed another very positive session in Friday’s trade as the index witnessed strong buying momentum to close the day with strong gains. The Bank index breached and closed above the crucial resistance levels of 9900 in the process. The index has crucial support below 9800 levels and any dip below these levels will test 9600 levels in coming days. The Bank nifty holding above the 200 DMA is a positive signal for the index and if it manages to sustain above these levels we may soon witness the index testing 10000 plus levels also. The bank index has very crucial weekly support around the 9600 levels and if it slips again below these levels in coming sessions, we may soon retest lower levels. The index has broken the down trend and holding above these levels will be positive.
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