Banknifty Bullrun might be shortlived
Bank Nifty will take off on Monday on opening, the question is whether it will be able to sustain that or not. It is at its resistance point and even if it breaks this, next point of resistance would be 21,620. Breaking that successfully would mean that Bulls have taken over for further upward targets.
But looking at S&P at its resistance point, its hard for Bank Nifty to continue beyond 21,620, unless S&P also crosses its resistance.
But looking at S&P at its resistance point, its hard for Bank Nifty to continue beyond 21,620, unless S&P also crosses its resistance.
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