Key Points
The Nifty Bank closed in the green for the second consecutive day..
The index rose 178 points to close at 46,863, while the Nifty50 closed just a shade below 22,100 levels...
The index closed above its crucial support of 46,500 levels for the second consecutive day, a positive sign for the bulls..
Despite a sideways trend observed on the 15-minute chart, the index encountered persistent resistance between 46,950-46,980 over the past two days, while finding support around 46,568, he said...
"The Bank Nifty index saw robust buying from lower levels but struggled to breach the resistance at 47,000, Rupak De, Senior Technical Analyst at LKP Securities, said.. Immediate support lies at 46,600-46,500, and as long as the index holds above this level, the outlook remains bullish..
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