It is an indication that BankNifty may see some profit taking at this level.
Punters may push Banking stocks a little lower initially.
Some support exists near 8564 and if this level is not breached then we may see some gains again in BankNifty.
If BankNifty breaches 8564 level with volume then it may drift lower and it may test 8460 and 8410 levels as well.
But if 8600 level is retained by BankNifty then we may see higher levels.
Once 8655 is breached by BankNifty then we may see some higher levels.
If BankNifty close above 8777 then it will retain its uptrend and we are sure to test 8848 level on the higher side as well.
| Important Bank-Nifty Levels for 4th Feb | ||
|---|---|---|
BankNifty Pivot | 8602 | |
| Support | ||
| 8564 | 8509 | 8462 |
| Resistance | ||
| 8655 | 8694 | 8741 |
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