Bank NIFTY-Weekly Outlook-Venkat's Blog

The Bank Nifty moved in range of 2151 points Viz. between 46580 & 444429. The Bank Nifty posted a strongly bearish candle for the second consecutive week. The Bank Nifty continues to be under strong selling pressure. Break below 45400 cutting the ascending channel is not a favorable sign. The oscillators are turning negative. Only a weekly close above 46500 would help reclaim the 47K zone. A daily close above 45600 required for reduced selling pressure. The expected range for Bank Nifty is 44400-46300. A daily close outside the broader range indicated above would trigger a sharp move and would require re-evaluation of risk and target.

Disclaimer: The views expressed here are personal and not connected to SYFX Treasury Foundation. The views are for learning and reference purpose only.