Bank Nifty Report

Technical outlook

Bank nifty daily chart has formed “Ascending 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 30200. 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 30550-30700 levels. Key resistance holds at 30700.

Technical outlook

Bank nifty daily chart has formed “Ascending 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 30200. 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 30550-30700 levels. Key resistance holds at 30700.

Technical outlook

Bank nifty daily chart has formed “Ascending 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, testing all the way up to 31250-31400 levels in upcoming sessions. Alternatively, if the market breaks below a key support holding at 30850 then it might turn bearish once again. The downside rally could test up to 30700-30500 levels. Key resistance holds at 31400.

Technical outlook

Bank nifty daily chart has formed “Ascending 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 30820. The downside rally could be testing all the way up to 30600-30400 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 31200-31400 levels. Key resistance holds at 31400.

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 31350. The upside rally could be testing all the way up to 31500-31700 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 31000-30800 levels. Key support holds at 30800.

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 30900. The downside rally could be testing all the way up to 30700-30500 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 31200-31350 levels. Key resistance holds at 31350.

Technical outlook

Bank nifty daily chart has formed “Ascending broadening wedge” pattern. The last session ended up bearish in trend after few sideways rallies inside the channel. The market is expected to continue on bearish momentum, once the same breaks below a key support holding at 30900. The downside rally could be testing all the way up to 30700-30500 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 31200-31350 levels. Key resistance holds at 31350.

Technical outlook

Bank nifty daily chart has formed “Ascending broadening wedge” pattern. The last session ended up bearish in trend after few sideways rallies inside the channel. The market is expected to continue on bearish momentum, once the same breaks below a key support holding at 30700. The downside rally could be testing all the way up to 30500-30300 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 31000-31300 levels. Key resistance holds at 31300.

Technical outlook

Bank nifty daily chart has formed “Ascending 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 31700. The upside rally could be testing all the way up to 31900-32100 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 31400-31200 level. Key support holds at 31200.

Technical outlook

Bank nifty daily chart has formed “Ascending 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 31750. The upside rally could be testing all the way up to 31900-32100 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 31400-31200 level. Key support holds at 31200.