Bank Nifty Outlook - 11460 - Angel Broking

The Bank Nifty too opened on a muted note in line with the Benchmark indices. After a range bound activity throughout the session, the banking index closed with a gain of around half a percent. In the process, the Bank nifty has finally managed to cross the 'hourly 89 EMA' (11376). Also, during yesterday's session, the index managed to close a tad above previous crucial resistance of 11454.

Going forward, we may witness a rally towards 11622 - 11781 levels only if the bank nifty manages to sustain above 11515 level. On the downside, 11409 - 11258 levels may provide a decent support for the index in the coming trading sessions.

Source : Equity Bulls

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