Bank Nifty

Technical outlook

Bank nifty daily chart has formed “Megaphone chart” 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, testing all the way up to 26600-26400 levels in upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 26950 then it might turn bullish once again. The upside rally could test up to 27100-27300 levels. Key support holds at 26400.

Research Report call:

Technical outlook

Bank nifty daily chart has formed “Megaphone chart” pattern. The last few sessions ended up bullish in trend after retesting an interim trend line inside the channel. The market is expected to continue on bullish momentum, once the same breaks above a key resistance holding at 26700. The upside rally could be testing all the way up to 26900-27100 levels in upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. The downside rally could test up to 26500-26200 levels. Key support holds at 26200.

Research Report call:

Technical outlook

Bank nifty daily chart has formed “Megaphone chart” pattern. The last session ended up bullish in trend after retesting an interim trend line inside the channel. The market is expected to continue on bullish momentum, testing all the way up to 26300-26500 levels in upcoming sessions. Alternatively, if the market breaks below a key support currently holding at 25900 then it might turn bearish once again. The downside rally could test up to 25700-25500 levels. Key resistance holds at 26500.

Research Report call:

Technical outlook

Bank nifty daily chart has formed “Megaphone chart” 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 the key support holding at 26050. The downside rally could be testing all the way up to 25950-25800 levels in upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test up to 26200-26350-26500 levels. Key resistance holds at 26500.

Research Report call:

Technical outlook

Bank nifty daily chart has formed “Megaphone chart” 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 the key resistance holding at 26650. The upside rally could be testing all the way up to 26800-27000 levels in upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the same and turn bearish. The downside rally could test up to 26500-26300-26150 levels. Key support holds at 26150.

Research Report call:

Technical outlook

Bank nifty daily chart has formed “Megaphone chart” 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 the key support holding at 26100. The downside rally could be testing all the way up to 25950-25800 levels in upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test up to 26300-26500 levels. Key resistance holds at 26500.

Research Report call:

Technical outlook

Bank nifty daily chart has formed “Megaphone chart” pattern. The last few sessions 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 the key support holding at 26400. The downside rally could be testing all the way up to 26200-26000 levels in upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test up to 26600-26800-27050 levels. Key resistance holds at 27050.

Research Report call:

Technical outlook

Bank nifty daily chart has formed “Megaphone chart” pattern. The last few sessions 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 the key support holding at 26600. The downside rally could be testing all the way up to 26400-26200 levels in upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test up to 26800-27050 levels. Key resistance holds at 27050.

Research Report call:

Technical outlook

Bank nifty daily chart has formed “Megaphone chart” pattern. The last few sessions ended up bearish in trend after few positive rallies inside the channel. The market is expected to continue on bearish momentum, testing all the way up to 26700-26550 levels in upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 27050 then it might turn bullish once again. The upside rally could test up to 27200-27400 levels. Key support holds at 26550.

Research Report call:

Technical outlook

Bank nifty daily chart has formed “Megaphone chart” 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, testing all the way up to 26700-26550 levels in upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 27000 then it might turn bullish once again. The upside rally could test up to 27200-27400 levels. Key support holds at 26550.

Research Report call: