Bank Nifty Report

Technical outlook

Bank nifty daily chart has formed “Descending broadening wedge” pattern. The last few sessions ended up sideways 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 27850. The downside rally could be testing all the way up to 27600-27400 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 28600 level. Key resistance holds at 28600.

Technical outlook

Bank nifty daily chart has formed “Descending broadening wedge” pattern. The last few sessions ended up sideways 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 28250. The downside rally could be testing all the way up to 28000-27700 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 29000 level. Key resistance holds at 29000.

Technical outlook

Bank nifty daily chart has formed “Descending broadening wedge” pattern. The last few sessions ended up sideways 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 28600. The downside rally could be testing all the way up to 28300-28000 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 29300 level. Key resistance holds at 29300.

Technical outlook

Bank nifty daily chart has formed “Descending broadening wedge” pattern. The last few sessions ended up sideways 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 29000. The downside rally could be testing all the way up to 28700-28500 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 29600 level. Key resistance holds at 29600.

Technical outlook

Bank nifty daily chart has formed “Descending broadening wedge” pattern. The last few sessions ended up sideways 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 29500-29200 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 30350 level. Key resistance holds at 30350.

Technical outlook

Bank nifty daily chart has formed “Descending broadening wedge” pattern. The last few sessions ended up sideways 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 30100. The upside rally could be testing all the way up to 30300-30500 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 29550 level. Key support holds at 29550.

Technical outlook

Bank nifty daily chart has formed “Descending 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 29500. The downside rally could be testing all the way up to 29250-29000 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 level. Key resistance holds at 30000.

Technical outlook

Bank nifty daily chart has formed “Descending 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 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 30250 level. Key resistance holds at 30250.

Technical outlook

Bank nifty daily chart has formed “Descending 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 30700. The upside rally could be testing all the way up to 31000-31200 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 30000 level. Key support holds at 30000.

Technical outlook

Bank nifty daily chart has formed “Falling 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 29150. The upside rally could be testing all the way up to 29400-29600 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 28400 level. Key support holds at 28400.