Key Points
The Nifty Bank recouped losses on Wednesday to close in the green which suggests that bulls are here to stay...
The index rose 78 points to close at 47,624 while the Nifty50 fell 18 points to close at 22,434...
PNB, AU Small Finance Bank, Axis Bank, and SBI led the gains while some profit-taking was seen in Kotak Bank, Bandhan Bank, IndusInd Bank, and ICICI Bank...
"The Bank Nifty index experienced buying pressure from lower levels and managed to sustain above the support zone of 47,500-47,400, Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities, said...
The next session's immediate support levels are around 47,365 and 47,000, while the upside resistance levels are still firmly in place at 47,700, over which the index may continue to rise towards 48,061, recommended Uttekar...
You might be interested in
Nifty Bank rallies nearly 1%; next resistance seen at 48,000: Experts
01, Apr, 24The Nifty Bank managed to reclaim crucial resistance levels and any dips towards 47,000 could be used as a buying opportunity. Federal Bank, HDFC Bank, AU Small Finance Bank, and Bandhan Bank rose more than 1% each.
Nifty Bank falls over 1%; immediate support placed around 47,000: Experts
11, Mar, 24The Nifty Bank fell over 1% on Monday as traders preferred to book profits at higher levels. The index fell more than 500 points to close at 47,327 while the Nifty50 was down 160 points to close the session at 22,332.
RBL Bank, Indigo and ABB look overheated. Should you buy or sell?
16, Jul, 23The Nifty faces a crucial resistance at 19,500 for it to continue its upward momentum. Rohan Shah, technical analyst at Religare Broking, advises traders to go short only if Nifty Bank fails to hold the support zone of 44,550-44,450. He predicts that the Nifty IT index could rally further towards 31,500 levels in the near term
Nifty could take a breather but may resume uptrend towards 18100; Bank Nifty support seen at 41200
17, Apr, 23Nifty closed the week at 17828 levels up 1.3%. Broader markets relatively outperformed as Nifty Midcap and Small cap indices gained 1.75% and 1.5%, respectively.
Nifty 50 to retest lifetime highs, Bank Nifty to outperform benchmark; midcaps may rally 25% within few months
05, Jun, 23While Nifty 50 might retest lifetime highs, Bank Nifty is set to move towards 44,900 levels as PSU bank shares will demonstrate outperformance.
Buy or sell: Vaishali Parekh recommends 2 stocks to buy today — February 28
28, Feb, 23Buy or sell: Nifty is standing at crucial support of 17,300 levels, believes Vaishali Parekh of Prabhudas Lilladher
Nifty Bank slips below 45,000; 44,500 likely to act as big support next week
25, Jan, 24PNB as well as ICICI Bank closed with gains between 1-2% on account of strong results while selling was seen in AU Small Finance Bank, Axis Bank, HDFC Bank, and Kotak Mahindra Bank.
Nifty Bank hits a fresh record high! Next target seen at 48,500 levels: Experts
27, Dec, 23The Nifty Bank closed higher on Wednesday for the second consecutive day in a row pushing the index to a fresh record high in line with the trend seen in the benchmark index.
Nifty Bank closes above 47K after 10 sessions; may face resistance around 47,500 next week: Experts
28, Mar, 24The Nifty Bank gained 338 points to close at 47,124, while on the weekly front, the index rose 0.5%. The Nifty50 gained more than 200 points to close at 22,326 on Thursday. SBI, Bank of Baroda, PNB, and ICICI Bank were among the top gainers, while some selling was seen in IDFC First Bank, Axis Bank, and Bandhan Bank.
Nifty Bank climbs 46K; next resistance placed around 46,500: Experts
29, Feb, 24The index still closed below the 50-DMA on the daily charts but the price action suggests that bulls should be in control and push the index towards 46,500-46,750 levels, suggested experts.