Bank Nifty

Technical outlook

Bank nifty daily chart has formed “Megaphone chart” pattern. The last session ended up strongly bearish in trend as an engulfing one inside the channel. The market is expected to continue on bearish momentum, once the same breaks below the current key support zone holding at 25100. The downside rally could be testing all the way up to 24900-24750 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 25400-25600 levels. Key resistance holds at 25600.

Research Report call:

Technical outlook

Bank nifty daily chart has formed “Megaphone chart” 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 the current key resistance zone holding at 25700. The upside rally could be testing all the way up to 25850-26000 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 25250 levels. Key support holds at 25250.

Research Report call:

Technical outlook

Bank nifty daily chart has formed “Megaphone chart” pattern. The last session ended up consolidated after few strong positive rallies inside the channel. The market is expected to continue on bullish momentum, once the same breaks above the current key resistance zone holding at 25450. The upside rally could be testing all the way up to 25600-25750 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 24900 levels. Key support holds at 24900.

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 again near the channel’s support slope line. The market is expected to continue on bullish momentum, once the same breaks above the current key resistance zone holding at 25450. The upside rally could be testing all the way up to 25600-25750 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 24900 levels. Key support holds at 24900.

Research Report call:

Technical outlook

Bank nifty daily chart has formed “Megaphone chart” pattern. The last few sessions ended up bullish in trend retesting again near the channel’s support slope line. The market is expected to continue on bullish momentum, once the same breaks above the current key resistance zone holding at 24850. The upside rally could be testing all the way up to 25000-25200 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 24400 levels. Key support holds at 24400.

Research Report call:

Technical outlook

Bank nifty daily chart has formed “Right angled ascending broadening wedge” pattern. The last session ended up strongly bullish in trend breaking weekly highs. The market is expected to continue on bullish momentum, once the same breaks above a key resistance zone holding at 25400. The upside rally could be testing all the way up to 25600-25800 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 25100-24800 levels. Key support holds at 24800.

Research Report call:

Technical outlook

Bank nifty daily chart has formed “Megaphone chart” pattern. The last session ended up bearish in trend retesting near the channel’s support slope line. The market is expected to continue on bearish momentum, once the same breaks below a key support zone holding at 24400. The downside rally could be testing all the way up to 24200-24000 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 24600-24850 levels. Key resistance holds at 24850.

Research Report call:

Technical outlook

Bank nifty daily chart has formed “Rising channel” pattern. The last session ended up bullish in trend retesting near the channel’s support slope line. The market is expected to continue on bullish momentum, testing all the way up to 24850 and furthermore levels in upcoming sessions. Alternatively, if the market breaks below the key support holding at 24400 then it might turn bearish once again. The downside rally could test up to 24200-24000 levels. Key resistance holds at 24850.

Research Report call:

Technical outlook

Bank nifty daily chart has formed “Right angled Ascending broadening wedge” pattern. The last session ended up bearish in trend near the channel’s support line. The market is expected to continue on bearish momentum, once the same breaks below the key support holding at 24200. The downside rally could be testing all the way through 24000-23800 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 24600-24800 levels. Key resistance holds at 24800.

Research Report call:

Technical outlook

Bank nifty daily chart has formed “Right angled Ascending broadening wedge” pattern. The last session ended up bullish in trend retesting near the channel’s support line. The market is expected to continue on bullish momentum, testing all the way through 25100-25300-25400 levels in upcoming sessions. Alternatively, if the market breaks below a key support zone holding at 24700 then it might turn bearish once again. The downside rally could test up to 24500-24300 levels. Key resistance holds at 25400.

Research Report call: