Bank Nifty Outlook - (12718) - Angel Broking

Yesterday, Index opened on a flat note and traded in a narrow range during the first half but selling pressure during the last hour of trade led the index to close marginally in the negative territory.

The negative crossover in momentum oscillator "RSI" and "Stochastic" on the daily chart mentioned in our previous report is still intact. We reiterate our view that only a move outside the range of 12838 - 12615 will dictate a clear direction of the trend.

Within the mentioned range 12793 - 12838 levels are likely to act as resistance and 12662 - 12615 are likely to act as support for the day.

Source : Equity Bulls

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