Bank Nifty

Technical outlook

Bank nifty daily chart has formed “Ascending broadening wedge” pattern. The last few sessions ended up bearish in trend along with some corrections inside the channel. The market is expected to continue on bearish momentum, once the same breaks below a key support holding at 29600. The downside rally could be testing all the way up to 29400-29200 levels in upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish once again. The upside rally could test up to 30000-30200 levels. Key resistance holds at 30200.

Research Report call:

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Technical outlook

Bank nifty daily chart has formed “Ascending broadening wedge” pattern. The last session ended up bearish in trend after few positive rallies inside the channel. The market is expected to continue on bearish momentum, once the same breaks below a key support holding at 30100. The downside rally could be testing all the way up to 30000-29800 levels in upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish once again. The upside rally could test up to 30400-30650 levels. Key resistance holds at 30650.

Research Report call:

Technical outlook

Bank nifty daily chart has formed “Ascending broadening wedge” pattern. The last few sessions ended up bullish in trend along with some corrections inside the channel. The market is expected to continue on bullish momentum, once the same breaks above a key resistance holding at 30600. The upside rally could be testing all the way up to 30800-31000 levels in upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish once again. The downside rally could test up to 30300-29900 levels. Key support holds at 29900.

Research Report call:

Technical outlook

Bank nifty daily chart has formed “Ascending broadening wedge” pattern. The last few sessions ended up bullish in trend along with some corrections inside the channel. The market is expected to continue on bullish momentum, once the same breaks above a key resistance holding at 30200. The upside rally could be testing all the way up to 30400-30500 levels in upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish once again. The downside rally could test up to 29900-29700 levels. Key support holds at 29700.

Research Report call:

Technical outlook

Bank nifty daily chart has formed “Ascending broadening wedge” pattern. The last session ended up bullish in trend after few negative rallies inside the channel. The market is expected to continue on bullish momentum, testing all the way up to 30100-30250 levels in upcoming sessions. Alternatively, if the market breaks below a key support holding at 29800 then it might turn bearish once again. The downside rally could test up to 29600-29400 levels. Key resistance holds at 30250.

Research Report call:

Technical outlook

Bank nifty daily chart has formed “Ascending broadening wedge” pattern. The last few sessions ended up bearish in trend along with some corrections inside the channel. The market is expected to continue on bearish momentum, once the same breaks below a key support holding at 29700. The downside rally could be testing all the way up to 29600-29400 levels in upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish once again. The upside rally could test up to 30000-30200 levels. Key resistance holds at 30200.

Research Report call:

Technical outlook

Bank nifty daily chart has formed “Ascending broadening wedge” pattern. The last few sessions ended up bearish in trend along with some corrections inside the channel. The market is expected to continue on bearish momentum, once the same breaks below a key support holding at 29700. The downside rally could be testing all the way up to 29600-29400 levels in upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish once again. The upside rally could test up to 30000-30200 levels. Key resistance holds at 30200.

Research Report call:

Technical outlook

Bank nifty daily chart has formed “Ascending broadening wedge” pattern. The last session ended up bullish in trend after few negative rallies inside the channel. The market is expected to continue on bullish momentum, once the same breaks above a key resistance holding at 30200. The upside rally could be testing all the way up to 30400-30600 levels in upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish once again. The downside rally could test up to 29900-29700 levels. Key support holds at 29700.

Research Report call:

Technical outlook

Bank nifty daily chart has formed “Ascending broadening wedge” pattern. The last few sessions ended up bearish in trend along with some corrections inside the channel. The market is expected to continue on bearish momentum, once the same breaks below a key support holding at 29700. The downside rally could be testing all the way up to 29600-29400 levels in upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish once again. The upside rally could test up to 30000-30200 levels. Key resistance holds at 30200.

Research Report call:

Technical outlook

Bank nifty daily chart has formed “Ascending broadening wedge” pattern. The last session ended up bullish in trend after few negative rallies inside the channel. The market is expected to continue on bullish momentum, once the same breaks above a key resistance holding at 30200. The upside rally could be testing all the way up to 30350-30600 levels in upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish once again. The downside rally could test up to 29700-29500 levels. Key support holds at 29500.

Research Report call: