We are tracking and following the Bank Nifty moves from the last four weeks. You can see all past four posts here.
We discussed this in the last post. We must look at 31500 levels as a Pointer for further clues in the current swing.
Bank Nifty Index went above 31500 but failed to give any EOD close above it.
Continuously struggling to get close above 31500 acted as the first clue of uncertainty in long positions on the Bank Nifty Index.
As a result, today, Bank Nifty fell 900 points (almost 3%) in a single trading session.
What’s next??? For Bank Nifty After the fall of 900 Points
Now at present Bank Nifty, today made the low near short-term critical support level of 30500.
We can use the level mentioned above as a Pointer for the further trading clue.
Any close or sustainability below 30500 levels, will add more weakness in the Bank index.
We can expect a solid bounce in Bank Nifty from the 30100-29920 range, which is the index’s Primary support area.
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Note: Above mention price projection & other Information are for educational purposes only.
