Any closing above 8798 will bring BankNifty back to stronger zone.
BankNifty must find great support at 8605 level and any closing below it may create panic situation in BankNifty.
Both Nifty and BankNIfty are in oversold zone and we expect good bounceback in both in the coming days as soon as the recent selling ends.
As per our study of longer term charts of BankNifty, its been important to see that a very important support line exist near 8605 level of BankNifty and if we see weekly closing below these levels then it will be a really serious problem for intermediate term outlook.
Hence bulls will place everything at stake to maintain this level.
| Important BankNifty Levels for 25th January | ||
|---|---|---|
Nifty Pivot |
8725 | |
| Support | ||
| 8605 | 8572 | 8530 |
| Resistance | ||
| 8953 | 9005 | 9062 |
Posts
0 comments:
Post a Comment