Wait and Watch approach on Bank Nifty
Yesterdays relief rally on BN must not be interpreted as a Bullish call.
BN faces stiff resistance around 52,400 zones.
At the same time, Nifty is weaker in comparison to BN.
My understanding is that some sort of price action will need to form at these levels to understand the further direction. It could also happen that BN may correct from here.
I would advice an intraday approach on both indices for the next few days.
BN faces stiff resistance around 52,400 zones.
At the same time, Nifty is weaker in comparison to BN.
My understanding is that some sort of price action will need to form at these levels to understand the further direction. It could also happen that BN may correct from here.
I would advice an intraday approach on both indices for the next few days.
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