Key Points
The Nifty Bank plunged more than 700 points to break below its crucial support placed at 45,000 on Monday, tracking muted cues and sharp selling in banking stocks..
The Nifty50, on the other hand, plunged 166 points to close at 21,616...
Sharp selloff was seen in stocks like Bandhan Bank, IndusInd Bank, Kotak Bank, and ICICI Bank while SBI and Bank of Baroda closed flat but with a positive bias...
The index faces immediate resistance at 45,100, and a breakthrough could trigger short covering moves towards 45,500 levels, he said.. Conversely, the immediate support is at 44,800, and breaching this level may intensify selling pressure towards the 44,000 mark, highlighted Shah...
Bank Nifty also witnessed a correction; however, as the day ended it witnessed a pullback and close around 44,900 where the 200-day moving average is placed, said Jatin Gedia technical research analyst at Sharekhan by BNP Paribas...
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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.
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 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.
Nifty Bank falls for 6th day; support seen at 46,000 levels: Experts
18, Mar, 24It is the longest losing streak for the Nifty Bank since October 2023. The index fell 18 points to close at 46,575.
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.
Nifty’s weakness may continue, 19,500 is key support: Analysts
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.
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.
Dalal Street Week Ahead: Nifty likely to extend gains; protect profits at higher levels
04, Nov, 23From a technical perspective, the market formed an Inside Bar on the charts as Nifty formed a lower high and higher low. More importantly, Nifty defended the strong support zone of 18,850-18,900 levels. As of now, unless violated, this zone remains a very strong support zone for Nifty.
Nifty Bank falls for 8th day in a row; crucial support placed at 46,000: Experts
19, Mar, 24IndusInd 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 selling pressure pushed the Nifty Bank below the 50-DMA placed at 46,488 on a closing basis.
Bank stocks drop amid foreign selloff
05, Oct, 23While RBI is expected to hold rates, the global factors like the rising bond yields and higher interest rates have led to negativity in the banking space, said Andrew Holland, CEO-Avendus Capital Alternate Strategies. The support levels for the banking index are hovering over at 42,000 levels. The Nifty Bank index closed at 43,964.