NIFTY BANK VIEW
Nifty Bank (27695)
Nifty bank marked a new high on the first day of the week but failed to sustain on those higher levels further shed down to positional support levels of 27300.
The index closed with a hanging man candle pattern formation in weekly charts.
If nifty bank trades below 27300, selling will be active and the rally of previous week will be over.
Trading above 27900, a new rally zone will be active and it can show 28400 soon.
Support zone lies at 27300-27600.
Maintains below 27300, it can slide to 27000.
Nifty Bank (27695)
Nifty bank marked a new high on the first day of the week but failed to sustain on those higher levels further shed down to positional support levels of 27300.
The index closed with a hanging man candle pattern formation in weekly charts.
If nifty bank trades below 27300, selling will be active and the rally of previous week will be over.
Trading above 27900, a new rally zone will be active and it can show 28400 soon.
Support zone lies at 27300-27600.
Maintains below 27300, it can slide to 27000.
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