Bank Nifty closes at 11853 - Angel Broking

Yesterday, the Bank Nifty too opened on a flat note and the movement was quite similar to our benchmark indices. We continue to mention the trend line (drawn by joining the high of 13016 and 12488) is acting as an important resistance for the bulls. Only a sustainable breakout from this resistance level (11980) would result in the possibility of a pullback.

Conversely, a fall below Monday's low of 11735 would result in the beginning of a strong down move. In this scenario, the Bank Nifty may slide towards 11590 - 11334 levels.

Source : Equity Bulls

Keywords