Technical outlook
Bank nifty daily chart has formed “Rising 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 below a key resistance holding at 27500. The upside rally could be testing all the way up to 27650-27800 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 27250-27050 levels. Key support holds at 27050.
Research Report call:
Technical Chart: