WEEKLY
RESISTANCE FOR BANKNIFTY: 21582, 21637, 21670, 21699
PIVOT
POINT: 21526
WEEKLY
SUPPORT FOR BANKNIFTY : 21495,21464,21409,21353
WEEKLY CHAT FOR BANKNIFTY
DAILY RESISTANCE FOR BANKNIFTY: 9203, 9212, 9230,9242
PIVOT
POINT: 9194
DAILY
SUPPORT FOR BANKNIFTY : 9171, 9158, 9146,9130
DAILY
CHART FOR BANKNIFTY
banknifty Still In Positive Momentum, Hold Long With
Strict Sl 21295
Technically, Indian Stock Market is still in positive zone
but market has witnessed divergence on the last trading session of the
Financial Year 2017. Now, we are into new Financial Year 2018 and on 3 Aprilpositive
movement wasalready decide the market direction. Some profit booking can’t be
ruled out at this point of time. Market would wait for RBI Monetary Policy meeting on April 05-06 and then would see some
correction before resuming the positive rally. Market would be considered weak
below 21400 levels for bank Nifty. Indian Stock Market would see reversal if bank
Nifty closes below 21331 levels. Overall, Indian Stock Market is strong for mid
tolong-term and Investors can go long at every dip in the market. Bank Nifty
may see some further temporary correction but traders should initiate short only below 21295 levels for Bank Nifty and until then, every
downfall is an opportunity to go long in the Bank Nifty.