Bank Nifty-Hanging man-caution critical level 38458
Bank Nifty made a bearish hanging man candle after several bullish sessions. The level 38458 proved to be a tough one to sustain above for bank nifty today---despite supportive buying by FII (112cr) and DII(379cr) net 491cr buy by institutions. 38458 is a pivot level on the shorter timeframe.
So if bank nifty opens above this critical level and sustains above previous high, then we can safely assume that the bullish sentiments continue-so next resistance would be 38743/38832.
Otherwise we can trade as per downward price action where next support is 37457.
Do you see some consolidation tomorrow?
So if bank nifty opens above this critical level and sustains above previous high, then we can safely assume that the bullish sentiments continue-so next resistance would be 38743/38832.
Otherwise we can trade as per downward price action where next support is 37457.
Do you see some consolidation tomorrow?
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