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Nifty Bank maintained its opening position of 300 points above the 40,500 area throughout the session. On the daily scale, it produced a small-bodied bearish candle, and it closed at its highest level in the previous 216 trading sessions. significant resistance at the level of 40900 and support around 40200. At 41830, the index is presently getting close to its 52-week high. On the weekly scale, Nifty Bank produced a bullish candle and provided its highest-ever weekly closing. Supports are located at 40000 and 39750 zones, while it must now hold above 40250 to go upward to 40750 and 41000 zones.The index has so far performed admirably, and the short-term trend is still upward. This index's current area of short-term support is around 39,120. The trading setting in Nifty Bank favours the continuation of upward movement. Other than ICICI Bank NSE 0.27% and SBI NSE 1.60%, there is a lot of catch-up that can be witnessed from equities, which might give the index more legs. The record peak may not be the conclusion of this run.
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