Bank Nifty: Trading in a channel since 4 months
Bank Nifty is trading slight below from upward slopping parallel channel. On shorter time frame, RSI divergence can be seen. If market will respect the channel, can expect green candle tomorrow. Fresh shorts at current levels might be risky untill 47200 is protected. In case of gap down opening, can expect sharp bounce to retest lower range of channel.
ICICI Bank one of the major component of bank nifty is also trading near support zone. RSI Divergence can also be seen in HDFC Bank.
Accordingly fresh shorts position is looking risky till 47200 is protected.
ICICI Bank one of the major component of bank nifty is also trading near support zone. RSI Divergence can also be seen in HDFC Bank.
Accordingly fresh shorts position is looking risky till 47200 is protected.
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