Bank Nifty Report

Technical outlook

Bank nifty daily chart has formed “Right angled descending 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 27300-27500 levels in upcoming sessions. Alternatively, if the market breaks below a key support holding at 26800 then it might turn bearish once again. The downside rally could test up to 26600-26400 levels. Key resistance holds at 27500.

Technical outlook

Bank nifty daily chart has formed “Right angled 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 26900. The downside rally could be testing all the way up to 26700-26500 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 27700 level. Key resistance holds at 27700.

Technical outlook

Bank nifty daily chart has formed “Right angled 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 27600. The downside rally could be testing all the way up to 27400-27200 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 28400 level. Key resistance holds at 28400.

Technical outlook

Bank nifty daily chart has formed “Right angled 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 28550 level. Key resistance holds at 28550.

Technical outlook

Bank nifty daily chart has formed “Right angled 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 27600. The downside rally could be testing all the way up to 27400-27200 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 28200 level. Key resistance holds at 28200.

Technical outlook

Bank nifty daily chart has formed “Right angled 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 28550. The upside rally could be testing all the way up to 28800-29000 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 27800 level. Key support holds at 27800.

Technical outlook

Bank nifty daily chart has formed “Right angled 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 28200. The downside rally could be testing all the way up to 28400-28600 levels in upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish once again. The upside rally could test up to 27600 level. Key support holds at 27600.

Technical outlook

Bank nifty daily chart has formed “Right angled 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 27550. The downside rally could be testing all the way up to 27300-27100 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 27900-28150 levels. Key resistance holds at 28150.

Technical outlook

Bank nifty daily chart has formed “Right angled descending 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 28150. The upside rally could be testing all the way up to 28400-28600 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 27700-27450 levels. Key resistance holds at 27450.

Technical outlook

Bank nifty daily chart has formed “Right angled 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 27550. The downside rally could be testing all the way up to 27400-27200 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 28000-28200 levels. Key resistance holds at 28200.