Bank Nifty:
Bank Nifty Outlook
Nifty Bank: Ongoing rally likely to continue unless index remains above 25650. Post approaching the highest Call base of 26000 last week, the index witnessed profit booking and consolidated in a narrow and tight band amid high volatility. Throughout the week, the index witnessed a decent support near 25,650 whereas a decline in Put option premium of 25,700 strike and additions in the open interest is indicating major writing, which is likely to provide cushion going forward.
Bank Nifty Trends
|
| R1 | 25885 |
| R2 | 26045 |
| S1 | 25648 |
| S2 | 25416 |
Technical Outlook:
Bank Nifty Friday Losers
|
| INDUSINDBK | 32.95 | 2.01% |
| KOTAKBANK | 1030.35 | 0.81% |
| HDFCBANK | 1851.40 | 0.46% |
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