NIFTY (6721.05, +16.85, +0.25%)
the JUGGERNAUT goes on unhindered! Unless the Nifty falls below 6674 and stays below that level in today’s trading the bulls would continue to hold the reins.
Bank Nifty (12588.50, -153.55, -1.21%)
BNFTY now looks much more vulnerable; however, if there were to be major buying and it reclaims levels beyond 12678 it can move further up again. Now, the whole range between 12602 through 12678 is a supply zone that would play a critical role while the support around 12347 through 12308 would do the same on the downside. Only with a decisive fall below 12308 things would make the bears start killing the banking sector again.
the JUGGERNAUT goes on unhindered! Unless the Nifty falls below 6674 and stays below that level in today’s trading the bulls would continue to hold the reins.
- Most critical levels: 6716 – 6700 – 6674
- Strong support: 6653 – 6641
- Major support: 6610 – 6593
- Strong resistance: 6728 – 6737
- Major resistance: 6759 – 6800
Bank Nifty (12588.50, -153.55, -1.21%)
BNFTY now looks much more vulnerable; however, if there were to be major buying and it reclaims levels beyond 12678 it can move further up again. Now, the whole range between 12602 through 12678 is a supply zone that would play a critical role while the support around 12347 through 12308 would do the same on the downside. Only with a decisive fall below 12308 things would make the bears start killing the banking sector again.
- Most critical levels: 12602 – 12678, its immediate resistance
- Strong resistance: 12797 – 12869
- Major resistance: 12959 – 13010
- Strong support: 12473 - 12398
- Major support: 12347 - 12308