Key Points
The Nifty Bank closed in the red for the eighth straight day on Tuesday to close below 50-DMA on daily charts, tracking weakness in benchmark indices..
IndusInd Bank, PNB, Bank of Baroda and AU Small Finance Bank were the top losers while some buying was seen in Kotak Mahindra Bank, ICICI Bank and HDFC Bank...
The steadfast support zone of 46,265-46,150 prevented further decline, hinting at a potential upward shift, said Sacchitanand Uttekar, VP- Research (Technical & Derivatives),Tradebulls Securities...
If the Bank Nifty Index manages to rebound with backing from the 46,265-46,150 support range, it may encounter resistance at 46,715-46,850 and subsequently at 47,266, he said.. Conversely, breaching the support range could prompt a test of lower support levels, notably around 45,985, recommended Uttekar...
The BankNifty experienced another day of sideways trading, indicating ongoing indecision between bulls and bears, marked by the formation of a Doji candle, said Rupak De, senior technical analyst at LKP Securities...
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Nifty may head towards 17600, Bank Nifty support at 39600; SBI, HUL in focus, Nifty IT, Auto to lead rally
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Nifty Bank closes below 47,000 for the 1st time since February 29; support seen at 46,280: Experts
13, Mar, 24The Nifty Bank index fell more than 300 points to close at 46,981, while the Nifty50 closed 1.5% lower below 22,000 levels. PNB, Bandhan Bank, Bank of Baroda, and Federal Bank were among the top index losers.
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01, Mar, 24The Nifty Bank rallied more than 1,100 points to reclaim its critical resistance levels of 47,000 on Friday tracking positive global cues.
Nifty Bank plunges over 1,000 points; experts suggest ‘sell on rise’ strategy
23, Jan, 24The fall in the Nifty Bank index was led by losses in IDFC First Bank, IndusInd Bank, Bank of Baroda, and SBI while some buying was seen in ICICI Bank post Q3 results.
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23, Oct, 23They caution if this support is breached, there is a likelihood that the index could further decline towards the range of 19,000 to 18,900 in the coming weeks. Analysts suggest traders may want to explore potential opportunities in Reliance, HDFC Bank, IndusInd Bank, and Sun Pharma.
Sharp selloff! Nifty Bank drops over 700 points, slips below 45,000. What should investors do?
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Nifty Bank falls for 6th day; support seen at 46,000 levels: Experts
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