BankNifty try to take support between mentioned levels of 8580-8559 and then breached these levels ruthlessly to crash heavily.
Now in case BankNifty close below 8404 level then it will not find support before 8220 level and all intermediate level will act as only minor support and buying in Bank Stocks and Bank Index will be like catching falling knives that can only hurt you then giving any opportunity of bottom fishing.
On the higher side until 8515 is topped by BankNifty it may not rise up further.
Wait and watch is the best policy for now.
| Important BankNifty Levels for 3rd Feb | ||
|---|---|---|
Nifty Pivot |
8455 | |
| Support | ||
| 8404 | 8369 | 8279 |
| Resistance | ||
| 8459 | 8494 | 8541 |
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