Bank Nifty:
Bank Nifty Outlook
It is pretty clear that we were tracking very weak global cues. This is not a technical correction. What are you expecting in the coming week? Bank Nifty is adding a lot of pressure to the index. The way Bank Nifty has ended below the 24,500 mark, clearly indicates that a huge amount of long unwinding as well as short positions have built up in the markets. The way it has broken 24,800 initially and thereafter 24,500 levels, it clearly indicates that it is heading again towards the previous swing lows of 23,800.
Bank Nifty Trends
|
| R1 | 24520 |
| R2 | 24680 |
| S1 | 24285 |
| S2 | 24150 |
Technical Outlook:
| Bank Nifty Friday Losers |
| Federal Bank | 113.95 |
| Canara Bank | 326.45 |
| Yes Bank | 360.65 |
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