NIFTYBANK - LEADERSHIP BURDEN

4 feb 2022

Nifty bank held the nerve through dictated by the expiry and the leadership role of the recent days. However, the weight of the broader weaker tone and the fact that the price action near the supply zone finally resulted in give back. This would remain the theme. Banknifty has inbuilt character to behave within the swing high and lows. Now we are in swing high and that demands there is corrective bias more so when the broader market is in down mood. 39300 holds for move back to 38400.